11 house hunters for every home on the market

worldtraveller

There are now 11 house hunters fighting for every home on the market as stock available for sale has plummeted to an 11 year low, according to new figures according to the National Association of Estate Agents.

The figure compares to a high point in supply in 2008, when there were two buyers for every house on the market. Last year there were about eight buyers per property available.

In January 2004, there were on average 15 house hunters for every one home.

Telegraph.co.uk

chris_m

Maybe in some areas, but by no means everywhere.

padington

chris_m wrote: »

Maybe in some areas, but by no means everywhere.

In London my estate agent reckoned that he sometimes would get near to 100 enquiries for a particularly well priced property.

wotsthat

I think the Telegraph should have had a disclaimer to highlight that as 11 is the average some places will have more and others less.

Generali

As I keep saying, everything is in place for a good old fashioned British property boom.

CLAPTON

since 2008 the population of the UK has increased by about 2 million

carslet

padington wrote: »

In London my estate agent reckoned that he sometimes would get near to 100 enquiries for a particularly well priced property.

Even up north here too, if a property is well priced (cheap) it can sell in days.

wotsthat

Generali wrote: »

As I keep saying, everything is in place for a good old fashioned British property boom.

I've been to a few BBQ's over the summer where there's been the unwelcome return of bores detailing their investment acumen by pointing out the house they've lived in for years has increased in value. I bet the home owners dinner parties have been a frenzy of groin thrusting for a while now.

I don't really join in house price discussions with real people but occasionally say the big win isn't the increase in price but the imputed rent saving over the long term. I usually get a 'what the F are you talking about' look and the subject moves onto more exciting things like school catchments and dull holiday adventures.

chucknorris

Generali wrote: »

As I keep saying, everything is in place for a good old fashioned British property boom.

Can you really see London properties going up much Gen? Obviously I would like them to, but I just can't see how the value could go up much more (in real terms) due to affordability issues. It's one thing saying that the supply is low, and it drives up the price, but someone still has to be able to afford to pay the price.

CLAPTON

chucknorris wrote: »

Can you really see London properties going up much Gen? Obviously I would like them to, but I just can't see how the value could go up much more (in real terms) due to affordability issues. It's one thing saying that the supply is low, and it drives up the price, but someone still has to be able to afford to pay the price.

if the number of people living in London continues to rise without a corresponding increase in supply, then prices will rise.
The mechanism will be increase in shared accommodation (whether legal or not)

Carl31

CLAPTON wrote: »

if the number of people living in London continues to rise without a corresponding increase in supply, then prices will rise.
The mechanism will be increase in shared accommodation (whether legal or not)

unless the cost of buying was to increase, of course