There has been an 80% annual increase in the number of homes entering the market over the past two weeks across Britain, the latest research from eXp UK has revealed.
eXp analysed the number of homes listed for sale in the past 14 days, and how this influx of fresh for sale stock compares to both the closing stages of last year (November 2023) and on an annual basis (January 2023).
A total of 83,033 homes were listed for sale across the British market over the past 14 days.
This was a 24% increase when compared to November 2023, and of 80% compared to this time last year, when just 46,092 homes were listed for sale during the two-week period.
As well as nationwide increases, the analysis by eXp showed that every single region recorded both quarterly and annual increases in fresh stock entering the market.
The biggest quarterly increase was recorded in the South East, where new listings in the past 14 days totalled 14,132, 31% up on last quarter (10,798).
Strong growth was also recorded in Yorkshire & Humber (30%), East of England (28%), the West Midlands (25%), London (24%), and the South West (23%).
The nation’s overall annual increase of 80% was led by Scotland’s fresh stock in January 2024 being 216% higher than in January 2023.
In the North East, fresh stock was up 159%, while in the North West numbers have increased by 147%.
This was followed by Yorkshire & Humber (144%), London (109%), the West Midlands (95%), South West (91%), East Midlands (72%), South East (71%), Wales (56%), and East of England (55%).
Adam Day, head of eXp UK, said: “There is a clear and undeniable momentum building across the British property market.
“Mortgage approvals are on the up, interest rates seem to have peaked and expected to fall this year, and sellers are reacting to this growing market sentiment in order to take advantage of growing buyer demand levels.
“As a result, there’s been a considerable increase in the level of fresh for sale stock reaching the market and, as a result, the outlook for the year ahead is a far more positive one than many could have predicted just a few months ago.”
