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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.

 

 

Allen Walkey

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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