Chat with us, powered by LiveChat 23% Increase in New Housing Stock Ahead of General Election
27th June 2024
5 minutes

23% Increase in New Housing Stock Ahead of General Election

New reports from propTech Home Sale Pack claim that there has been an increase of 22.9% in the number of new homes coming to market across the UK when compared to the beginning of the year, with sellers looking to get ahead of any competition that may arise after the General Election on 4th July.

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102,035 homes were listed for sale over the last two weeks

The UK property market has seen a 22.9% increase in new homes coming to market according to the latest analysis from propTech Home Sale Pack, with sellers looking to beat out any competition on 4th July in the UK.

The number of new homes is 23% higher than the number of homes that came to market at the beginning of the year.

Home Sale Pack analysed the number of properties that have been listed in the UK market over the last 14 days and how this influx of available stock compared to the figures recorded in January of this year; showing that there are currently 810,353 properties currently for sale in the UK, 102,035 of which have been listed for sale in the last two weeks alone.

Sellers work to get their home listed ahead of polling day

Every region in the UK has seen an increase in the number of sellers coming to market ahead of the General Election as many expect a potential market boom to hit in the aftermath.

“While the general election isn’t expected to impact overall market health, there will be a segment of buyers sitting tight in anticipation of some form of election cost-saving initiative - with stamp duty looking the most likely. With this in mind, it certainly seems as though a number of sellers are getting their house in order ahead of polling day to take advantage of any post-election surge in market activity, with the number of new homes reaching the market in the last 14 days sitting considerably higher than the start of the year.”
Ruth Beeton, Co-Founder of Home Sale Pack.

The regions with the greatest increases in properties entering the market are Scotland, South West, South East, and London, which have all seen increases of 36.4%, 32.2%, 24%, and 23% respectively when compared to the figures recorded in January.

The North East has seen the smallest increase in properties for sale coming to market, however, as a region it has still seen an increase in 12.6% over the last 14 days according to Home Sale Pack.

50% of voters think the government should be doing more to build homes

This comes as new research from Zoopla and Ipsos established that only 25% of voters ahead of the General Election believe that the housing market gets a lot of attention from the political parties.

According to voters, as housing targets seemingly never are met across the country, building more homes for the population should be high on the list of priorities for the next government with 50% of voters disagreeing with the statement that “there isn’t much governments can do to encourage the building of new homes”.

“British voters have high expectations from a new government on housing. The overarching response is ‘build more homes, but other things matter too”
Richard Donnell, Executive Director at Zoopla.

To speak to one of our expert team about our available properties and learn more about the current state of the UK property market, get in touch today.

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