Properties coming to market

Houses may have started to sell; however this is in stark contrast to the number of properties being put up for sale. During 2008 the number of properties marketed for sale was 988, down 28% on the 2007 figure of 1,365. The decline has continued into 2009, with only 266 properties coming to market compared to 328 properties in 2008. This is a fall of 19% year on year.

During the same period in 2007, 490 properties were put up for sale. There are nearly 50% less properties being put up for sale in 2009 compared to 2007.

The property segment that has witnessed the largest decline in supply is that between £250,000 and £499,000.Traditionally the sector which has the highest volume of sales transactions. The seller / buyer profile is typically the ‘family’ who require more space or who want to be in the right catchment area for schools.

This pattern is in contrast to owners of properties with a value of £1m+. In this segment there has been a 19% increase in properties coming to market. This figure may be distorted by a significant number of newly built mansion houses being completed during 2008, which have come onto the market during 2008/2009.