Home sellers face competition as stock surges

More than 54,000 additional homes have come onto the market in just two weeks, giving sellers much more competition as the autumn property market gets under way.

Estate agents Yopa counted 385,565 homes for sale across England on 14 September, up from 331,255 at the end of August.

That represents a 16% increase in available stock in just a fortnight.

Properties listed since the beginning of September now make up around one in seven homes currently for sale.

Sellers face autumn competition

The platform’s chief executive, Verona Frankish, said: “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.”

She added: “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.”

Stock rises across England

Rutland recorded the largest increase in homes for sale, with stock up 35% since the start of September.

Properties added since then account for 26% of all homes currently listed in the county.

The Isle of Wight recorded the next largest rise at 34%.

Worcestershire and Devon both saw the number of homes available increase by 20%.

London listings climb sharply

Greater London also recorded a 20% increase in homes for sale since the end of August.

Oxfordshire, Bristol and Norfolk each saw stock rise by 19% over the same period.

Somerset and Northamptonshire both recorded increases of 18%.

Across England, 54,310 additional properties were listed between 31 August and 14 September.