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Just How Many Houses Can Be For Sale At Once...

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In my local town there are two postcodes.

In the fastest sales month for February/March time at the peak of the housing market there were around 75 sales across the two postcodes.

There is already masses of houses for sale, a big backlog which the EAs haven't shifted.

Property is coming onto Rightmove at a rate of 92 every 14 days. Or 184 a month.

Even if EAs were selling them as fast as they did in 2004 the oversupply would be increasing by over 100 a month.

And this is assuming that all properties are listed on Rightmove, in reality almost 1/2 aren't. So the oversupply each month (even assuming instructions stay the same, and sales rates go higher) is probably going to increase at well over 200 properties a month.... thats quite a lot of choice. :lol:

Edit to add: Current stock on Rightmove in this area: 1124, so probably 2200 or so on the market.

Edited by non-FTBer

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  • 302 Brexit, House prices and Summer 2020

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