54,000 properties hit market during back to school rush
Over 50,000 homes have hit the market since the nation’s schools returned following the summer holidays, with the level of property for sale climbing by as much as 35% across some areas of England, according to the latest research by Yopa.
The full-service estate agency analysed the number of homes listed for sale across each county in England on 31st August and again on 14th September, revealing where stock levels have increased most as sellers return to the market following the traditional summer lull.
Over 54,000 homes hit the market
Yopa’s analysis shows that on 31st August there were 331,255 homes listed for sale across England.
Just 14 days later, this figure had climbed to 385,565, meaning 54,310 additional properties have hit the market since the start of September.
This equates to a 16% increase in the level of homes available for sale across England, with properties listed since the start of September now accounting for around one in every seven homes currently on the market.
Where has the back to school rush been strongest?
Rutland has seen the largest increase in for-sale stock since the end of the school summer holidays, with the number of homes available to buyers climbing by 35% since the start of September. In fact, homes to have entered the market since 1st September now account for 26% of all properties currently listed for sale across the county.
The Isle of Wight has seen the second largest increase, with for-sale stock climbing by 34% since the end of August.
Worcestershire and Devon have both seen stock levels increase by 20%, with Greater London also recording a 20% increase since the schools returned.
Oxfordshire, Bristol and Norfolk have each seen the number of homes available to buyers climb by 19%.
Somerset and Northamptonshire complete the top 10, with for-sale stock increasing by 18% across both counties.
Verona Frankish, CEO of Yopa, commented:
“The summer holidays traditionally bring a quieter period for the property market, with many sellers choosing to hold off while schools are out and families are focused on getting away.
But once September arrives, we tend to see the market spring back into action and this year has been no different, with more than 54,000 additional homes hitting the market in just two weeks.
That’s a substantial increase in such a short period of time and should bring greater choice for buyers who may have also put their plans on hold over the summer months.
Of course, greater levels of stock also mean more competition amongst sellers, so those coming to market this autumn will need to remain realistic on price if they want to secure a buyer, particularly with the wider market remaining more subdued than we’ve seen in previous years.”
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