After a slow start to 2022, which then picked up at the end of January into February, new property volumes coming to the market throughout the UK has just dipped below the 2021 weekly volumes in recent weeks. However, when looking at the whole of 2022 (through to 6th March) and comparing on the same period of 2021, we’ve actually seen 4.5% more properties coming to the market in 2022 so far.
Like with new instructions, the number of sales being agreed started slowly in 2022. Now the number of sales being agreed is still down on 2021, but higher week on week than in both 2020 and 2019. And when compared to 2021, we’ve seen 7% fewer properties agree a sale so far this year, but 3.5% more sales than in the same time of 2020 (just before the world began to shut down).
Then when we look at the rental market, we see that the number of properties becoming available to renters and also properties becoming Let Agreed each week is clearly down on the previous years.
When compared to 2020, there’s been 27% fewer properties come to the market and 21% fewer tenancies agreed.
Then when compared to 2021, 17% fewer properties have come onto the rental market and 13% fewer tenancies have been agreed.
There’s been a real shift in the past couple of years in rental properties.