Supply up in every part of the country according to Rightmove

The supply of new properties coming to the market is up on this time last year in every single region of the country according to Rightmove. 

In the last week, the number of new properties for sale is up eight per cent in Great Britain compared to the same period last year.

The East Midlands, South East, South West, Wales and Yorkshire & The Humber all recorded an increase upwards of 10 per cent in new homes for sale in the last week compared to the same period last year.

Rightmove sees this as an early sign of a better balanced market to come in 2022.

This new wave of sellers coming to market is set against a backdrop of continuing high buyer demand into 2022 - total buyer demand is up 35 per cent within the last week compared to the same period last year.

Rightmove’s director of property data Tim Bannister says: “The market has picked up pace after a busy festive period, and it’s a really encouraging sign to see more properties start to come to market for sale. 

“More new listings, coupled with the higher number of requests from prospective sellers to estate agents to value their home we are seeing, certainly suggests good news and positive signs we are moving towards a better balanced market in 2022.

“These new sellers will be met by eager buyers as the data shows the number of enquiries for homes for sale is even higher than this time last year. This means that while rising numbers of new homes for sale will be very welcome, buyers will face stiff competition for available properties, and should act fast when a property they like comes onto the market.”

Meanwhile Rightmove says Bexhill-on-Sea has been this month’s new supply hotspot in January, with the number of new properties coming to market up 88 per cent on the same period last year.

High Peak, Derbyshire, came second in the list of new supply hotspots with an 82 per cent increase in new sellers coming to market, while Chelmsford, Essex was third with a 58 per cent rise in new properties for sale.