Property portal Home says in some regions of the UK the number of properties coming to the market is 74 per cent less than before the downturn.
The London and south east-centred supply crisis is worsening, says Home, and September recorded the lowest number of properties entering these markets for that month since the onset of the financial crisis.
The number of properties coming on to the market last month in Greater London, the east of England and the south east is down by 74, 74 and 67 per cent respectively on September 2007.
By way of stark contrast, the website says home prices in the northern regions continue to stagnate. Annualised price changes for the north east, north west and Yorkshire of just 0.0, 0.8 and 1.3 per cent respectively indicate that the market recovery is still not apparent.
In Wales home prices there have risen by a mere 1.9 per cent over the last year, a long way behind the mix-adjusted average price rise for England and Wales of 6.9 per cent over the past 12 months.
Overall, the current mix-adjusted average asking price for England and Wales is now 20.0 per cent higher than it was in September 2008, says Home.
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Do you get a prize if you can decipher the headline?
It's a bit mealy-mouthed, but makes perfect sense to me.
Your prize, Richard, is a branding spanking "affordable" home. Oh wait, they don't exist, despite the government now classing £450,000 as affordable. In what world is that affordable?!
*Brand spanking even. I win the prize for dodgy typing.
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