Rightmove has this morning issued data indicating there has been a 6.6% increase in the volume of ‘fresh-to-the-market’ one and two bed homes, which is the highest since 2007.
They say this may be down to landlords already selling up as a result of the government tax changes and stamp duty increases aimed at buy to let investors.
Housing analyst at Rightmove, Miles Shipside explains “Encouragingly for first-time buyers there’s more fresh choice with more property coming to market in their target sector. With their asking prices pretty much the same as a month ago, perhaps the knock-on effects of the more punitive landlord tax regime have arrived early and they now face a dilemma over whether to buy now or wait to see if prices drop in this sector over the next few months”
Although there is a rise in supply, asking prices that are measured on Rightmove’s monthly index remain increasing. In January the average asking price for homes new to the market is 0.5% (£1,509), which is the second highest rise in January of 2007.
The Rightmove website has measured by visits to in the first working week of 2016 that demand is up by 21%, compared to the same period in 2015.