Agency Express, the UK’s largest for sale sign contractor, tells us that new boards put up in May increased 13.6% on April and were 89% up on May 2009.
With Rightmove and FindaProperty also confirming that homes coming to market rose in late May, there is little doubting that these combined numbers tell an accurate story of a definite uplift.
Commenting on the latest index results, Stephen Watson, Managing Director, Agency Express, said: “It appears that the result of the General Election has had a direct and positive impact on the housing market. The decision by the new coalition Government to immediately suspend the requirement to have a HIP seems to have taken away a significant obstacle that has been discouraging homeowners from putting their properties up ‘For Sale’. The good weather we saw in May also helped to increase sales activity to levels we haven’t seen consistently for over two years”.
Wales saw the biggest increase in new property listings with a 27% hike compared to April. Year on year, the North East saw an increase of 192%!
Yorkshire saw a decrease in homes marketed for the first time, at -9.8% on the month before.
Properties sold nationally rose 8.6% month on month with the North East the top performer regionally at 27.8% up on April, +102% annually.
Added volumes of new stock are obviously good news for the property industry as it thrives on transactions, not prices. But it remains to be seen what a greater influx of supply might do in the medium term to values if demand and mortgage availability are scarcer.
In the meantime, at least the market seems to be waking up from its enforced transactional slumber at last.
Emoov estate agents use Agency Express as their chosen sign board contractor across Barking, Basildon, Billericay, Braintree, Brentwood, Burnham on Crouch, Castle Point, Chelmsford, Colchester, Clacton, Dagenham, Epping, Harlow, Harwich, Hockley, Ilford, Ingatestone, Leigh-on-Sea, Loughton, Maldon, Rayleigh, Rochford, Shenfield, South Woodham Ferrers, Southend and Wickford.