Over 54,000 additional homes have been listed for sale across England in the last two weeks, leading to increased competition for sellers as the autumn property market commences.
Estate agents Yopa reported 385,565 homes for sale across England on 14 September, an increase from 331,255 at the end of August. This rise represents a 16% increase in available properties within a fortnight.
Properties listed since the beginning of September now account for approximately one in seven homes currently on the market. Verona Frankish, chief executive of Yopa, noted that the market tends to become more active in September after a quieter summer period.
The increase in available stock could offer greater choice for buyers. However, it also means more competition for sellers, who may need to be realistic about pricing to secure a buyer, particularly as the wider market remains subdued compared to previous years.
Rutland experienced the largest increase in homes for sale, with stock up 35% since the start of September. The Isle of Wight saw the next largest rise at 34%, while Worcestershire, Devon, and Greater London all recorded a 20% increase in available homes.