Properties Coming to the Market
The trend for a much smaller number of properties being put up for sale has continued during 2009.
In 2007 over 1,300 properties came to market. In 2008 this dropped to 966 and in 2009 the number was even lower at 836. This is a 36% fall compared to 2007. The last quarter of 2009 did see a marked increase in supply of properties for sale with the decrease compared to 2007 narrowing to only 12.5%.
The price sector that has witnessed the largest decrease in activity has been for homes priced between £250,000 and £499,999. The decline in the number of properties being put for sale has been 51% when comparing 2007 to 2009. This sector is traditionally made up of three bedroom properties and smaller four bedroom properties. The sellers are usually selling as they require more space as they have growing families or have benefited from increased wealth.
