Welcome to the Flambard Williams weekly housing report blog. Please find the latest information direct from Zoopla and see what is currently happening in the UK property market.
Sales applicant demand 11% below March 2021 levels
Sales demand has fallen below 2021 levels YoY for the first time this year. However, we typically see a drop off at this point in the year and a pick up towards April/May time as spring kicks in. Other reasons are to do with the political climate where buyers are waiting to access what their monthly NET income as costs start to rise.
Flow of new inventory 8% below March 2021 levels
Flow of new listings coming to market continues to run 8% higher YoY which is eroding the gap between supply and demand. Again we expect this to continue to increase year on year however as you can see by the charge below we are still well below 2019 levels.
New sales agreed 15% below 2021 levels
The volume of new sales agreed is around 10% higher than the pre-pandemic levels but the current market sales are running 15% lower YoY. This is simply due to the imbalance between supply and demand.
Lettings applicant demand 48% above 2021 level
The demand has risen in the applicant demand after a slight dip last week.
Rental applicant remains high across all regions
All areas remain very strong with the demand in Wales at highs not seen since last October in Scotland.