Supply of available properties rising online

Supply of available properties rising online

The supply and demand issue, which has been problematic for the UK property sector for some time, could be in the process of being rectified, as more and more people start to put their homes up for sale online. 

Supply and demand is problematic for the UK, because when there are far more people looking to buy than there are people looking to sell, it means there is a competition for each house sale taking place. This breeds a reality in which house prices are rising far faster than they would do naturally. 

According to the latest report released this week by online organisation House Simple, the volume of stock available online, however, is on the rise, which could help to address this problem. The data shows that in the last month alone, the number of properties being put up for sale online rose by some 7.1 per cent. 

Across the UK, the company said, the past month has seen 67 per cent of all major towns and cities experience an increase in the number of homes for sale online. Even in areas, it added, where the volume of properties for sale remains quite low, there are still positives, with the number of properties coming up for sale starting to edge up slightly. 

"A stampede of sellers coming to market was expected after the General Election result, but that stampede never materialised. In fact, for the first few weeks there appeared to be a fair amount of caution and reluctance amongst sellers to market," said Alex Gosling, chief executive officer of House Simple.

"This may have been a case of waiting to see if property prices might start to rise rapidly with the confidence generated by a stable, majority government. Now it appears sellers have waited long enough, and we’re starting to see some movement," he added.