Latest figures from National Association of Estate Agents (NAEA) Propertymark revealed that in April 2021:
According to Propertymark, in March 2021 there were on average just 31 properties per estate agent branch, this dipped down to 27 in April. This is the lowest 'property for sale' level since 25 properties per agent was recorded in December 2002.
Every branch that is registered with the NAEA currently has an average of 427 house hunters, up from the March figure of 409 property seekers. This means a potential 16 buyers for each available property.
The average house hunter figure is the highest since April 2004 when their were 487 prospective buyers per branch.
In March, the number of agreed sales remained flat at 12 sales per estate agent per month, still the highest it has been since April 2007 when it was 13 agreed sales per branch per month.
27% of the agreed sales are first time buyers, which was no change from March.
We love our property in the UK, we are after all just a small island with a finite amount of land available.
The staggering demand for housing continues in a post-Covid environment despite the fact that we are not clear of covid-19. We have seen this before and we already have grave concerns with demand outstripping supply leading to a sellers’ market with properties being purchased quickly, at higher prices without thought or reason.
We remember the negative equity of the 1990s after the late 1980s boom and the 15% fall in property prices during the credit crunch crisis of 2008/09 after the 'noughties' boom. Be careful, bubbles nearly always burst.