Monday 25 January 2010

REA shows 30% few homes on the market than 12 months ago

The nationwide survey by Real Estate Alliance shows 30pc fewer homes on the market than 12 months ago. “In all sectors, we are seeing significant decline in homes available.” According to the Real Estate Alliance chairman Michael Boyd. “On average, there are 30% less homes on the market now than there were 12 months ago.”

In the second hand sector, Real Estate Alliance study estimates the supply of apartments fell 19%, bungalows by 32%, detached homes by 35%, terraced by 18 % and semi detached homes by 34%.
With bank lending particularly focussed on the first time buyer sector, this last figure is of particular interest to the national property group.