Supply is up on last year and properties spending longer on the market overall according to Home.co.uk
Latest Home.co.uk Asking Price Index report – June 2018 headlines ‘Oversupply and overpricing threaten to stall market.’
The report reveals: Overall, supply of property for sale in the UK is up by 11% and the total stock for sale has increased by 8.5% year-on-year. In June 2017 the annualised rate of increase of home prices was 2.8%; today the same measure is just 1.4%.
The report states in it’s leading paragraph: The property drought that helped drive prices to notable highs over the last five years has come to an end. Supply is up considerably on last year, especially in post-boom regions, and properties are spending longer on the market overall.
Supply changes show a clear market shift compared to a year ago: up by 11% across the UK, with the biggest increases found in the East of England (+20%) and the South West (+21%) year-on-year (YoY) according to Home.co.uk, home prices notched up another 0.7% this month, buoyed by a flood of overpriced properties.
Read the Home.co.uk Asking Pice Index report June 2018 in full including comments from Doug Shephard (Director) click here.