new homes in the UK

98% increase in new homes listed for sale – report

New data shows that across Britain, 84,615 new homes were listed for sale over the last two weeks, resulting in a 98% increase compared to the start of the year.

GetAgent analysed the current market activity based on homes that have be listed for sale within the last 14 days and how this influx on fresh stock compares to the start of the year to show where the nation’s estate agents gave been the busiest in 2023.

COO of GetAgent, Mal McCallion said:

“Despite finishing 2022 on a note of uncertainty, many estate agents have entered into 2023 with a rejuvenated level of confidence in the market and it seems as though they were right to do so.

In fact, our research shows that it has been an extremely busy few months, with the level of for sale stock reaching the market increasing by quite some margin when compared to the start of the year.”

Estate agents have been the busiest in Scotland, where the number of new homes entering the market has increased by 218% recently, compared to the market activity levels at the beginning of the year.

The number of homes listed in the last 14 days in the North east is 157% higher than it was in January, with some of the biggest increases in market activity on the selling side also occurring in the North West (+146) and Yorkshire and the Humber (+132%).

Even though there has been the lowest increase in the number of new homes listed in the East of England, 59% more properties are presently being sold today than they were at the beginning of the year.

Although the South and East London may be in the middle when it comes to the change in new stock levels reaching the market, they rank top in terms of the volume of new listing at 14,662 and 11,878.

“So, it would seem as though the challenge facing the nation’s agents isn’t a decline in market health,” said McCallion. “But more a case of how they stand out from the crowd and remain competitive in what continues to be a busy marketplace.”

Mr Rolande, from the National Association of Property Buyers, said:

“Those on the frontline, estate agents, will be anxiously reviewing sales figures as they see stock building up and not being processed through as a sale.

More stock means more admin, higher fees on advertising, more viewings to attend – without sales to offset these increased costs, some won’t make it through.”

Pointing out the positives within the current market he said that “demand is high, supply is relatively low and prices are for now holding quite steady so far…”.

“If the property market falls off a cliff, so will thousands of businesses across the country. Mass unemployment and recession will follow,” Mr Rolande said. “Banks will cut back on lending. Fewer homes will sell, not more. That’s why the Government needs to do everything it can to avert a crisis, without adding too much fuel and igniting another boom.”

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