Not sure how accurate this figures are from Rightmove, area I'm looking to buy a house a lot more properties coming onto market each day.
If run new to market for last 14 days gives a total of 37., 367 on market at end of January so would be at least 404 on market less sales for month. Current total on market is 335 so would seem to indicate so far in Feb are 69. But if look at no sales this averages 20 per month for 6 months to Oct 2010. Looks to me as if no on market is correct at end of month but new to market no is overstated -this could be because a lot of houses that have been on market for months all of a sudden appear in new yo market. Sometimes the house has changed EA but more often than not it is with the same agent. Until ived followed these no's will be cautious in quoting new to market numbers. What is enlightening is actual no's on market
Jan 2010 259 Jan 2011 367 increase of 40% and if sales in 2011 at similar level to 2010 thats 3 years stock!!!!
Sounds fantastic opportunity for a cash buyer but very few properties of the type/price I'm looking for the only one I've made offer on still nearly 20% overvalued so look like another 2-3 yrs wait