“January’s data shows a slight rise in average housing stock levels coming on to the market, which, while a welcome sign, is from a low base. With the average stock level on surveyors books per branch, 21% down compared to a year ago, the issues currently present in the market, are a result of years of supply failing to keep pace with demand.
“As the pace of house price rises across the UK is of slight concern, it is important that they are read against a backdrop of mortgage affordability, which is currently positive when compared to historical levels. With 74% of survey respondents expecting an increase in buy-to-let purchases, particularly ahead of the changes to stamp duty in April, current house price inflation may be artificially high in Q1 but with time running out to complete before the end of March, the annualised increase is likely to be lower.”
For further enquiries, journalists can contact:
Johnathan Priestley, Cicero Group
Phone: 0207 297 5954
Rachael Snelling, Aldermore
Phone: 0208 1853 102