84,000 more homes have hit the property market following the Autumn Budget indicating sellers were undeterred by the first Labour Budget in 14 years according to online estate agency Yopa.
The agency reviewed for sale stock listings sourced from Rightmove looking at total market listings and what number had been listed for sale in the two weeks following the Budget on 30th October 2024 to arrive at its conclusions. 823,898 homes were listed for sale by the portal across Britain, of which 84,065 of those entered the market since the Autumn Budget; an increase of 11.4% nationally.
Regionally, the largest increase was in Scotland with an uplift of 12.7%, with the North East (+12.3%) and London (+12.2%) also seeing some of the largest increases in listings. Wales had the smallest increase, but still saw stock levels up nearly 10%. And in the cities, the North dominated the top 15 biggest increases in stock with Leicester, Newcastle, Bradford, Manchester and Leeds all seeing 10%+ growth. Glasgow, Nottingham and Edinburgh lead the way with 13.4%, 13/3% and 13.2% change respectively.
Commenting on the numbers, CEO of Yopa, Verona Frankish said
“There’s always a sense of uncertainty in the run up to a major budget and so it’s hardly surprising that many home sellers may have been sitting on the fence to see just what Chancellor Rachel Reeves had up her sleeve for them. The answer was unfortunately not a great deal and now that the Autumn Budget is done and dusted, we’ve seen a significant increase in the number of sellers entering the market.”
“This is a smart move given the fact that there was no extension to current stamp duty relief thresholds granted and we’re now likely to see an uptick in demand over the coming weeks as homebuyers look to purchase ahead of next year’s 31st March deadline.”
