According to Rightmove, average property coming to market was priced at £251,964 in February, 6.9% more than a year ago and the highest annual rate of growth since November 2007. A substantial jump in the number of properties coming to market means there are also tentative signs that the market recovery and increasing prices are persuading more people to sell. The number of weekly new listings in February 2014 was 18% higher than a year previously, Rightmove said.
Miles Shipside of Rightmove said that the housing market can only help to support a wider economic recovery if there is a sustained boost to property supply and not just buyer demand. “There is some early evidence that this is happening,” he said. “However, supply and demand imbalances remain and are getting worse in many markets, as a result of years of under-provision of additional housing stock, especially in the areas where the local economy and employment are strong.”
Courtesy of British Association of Removers r&s magazine April 2014 and Rightmove