Let’s take a look at the recent housing market in the UK.
We’re still seeing more property coming to the market (For Sale) each week compared to this time last year. In recent weeks, the difference between this year and the last “normal” year of 2019 has really closed up and we’re now tracking at a very similar weekly level to 2019.
With the sales, we’re still seeing weekly volumes of sales at a lower rate than the past 2 years, but higher than the last normal year of 2019. However, the gap between this year and 2021 has closed up in recent weeks and months.
The rental market is still somewhat different to the sales market. We’re seeing fewer new listings coming to the market To Let and also fewer properties becoming Let Agreed. However, the gap between New instructions this year and last year is closing week on week recently and the volume of properties becoming Let Agreed remaining fairly steady week on week.
Month by Month
So if we then take a look at the monthly figures for the past few years what we see is that the monthly volume of sales being agreed is slightly dropping each month, whereas the number of new instructions is on the up. There’s more new properties coming to the market than in 2021, but currently we’re lagging behind the boom months of 2020. Rental properties agreeing tenancies is also on the up month by month too.