Supply Has Halved in Last Ten Years – but Demand is Still Growing
The average agency branch had 72 properties on its books in 2005. Today that number is closer to 37.
Numbers released by the NAEA show how much supply has diminished in the last decade. Indeed, numbers have fallen since just two years ago – each branch had roughly 45 properties in 2014.
Meanwhile, demand has increased. Not at the same rate, though. There were 360 applicants registered per property branch at the end of 2015, compared with the slightly lower figure of 302 in 2005.
This is due to increase slightly in the coming months. April’s Stamp Duty deadline will cause a brief spike while investors try to save on extra tax costs, with the expectation that first-time buyers will be incentivised to try and buy their own property again after the deadline while investors lick their wounds.