The stock of property available for sale has increased by 10 per cent compared with the same time last year and is at its highest point going into September since 2008 according to the latest research from Hamptons International. The summer slowdown has abated and those vendors who stalled over the summer months have picked up momentum ensuring that applicants looking in both London and the South now have a wider choice.Although applicant levels tailed off in August when compared with the previous month (4 per cent decrease), there has been a 21 per cent leap in applicants post the August Bank Holiday.
Marc Goldberg Head of Sales at Hamptons International says: "The summer slowdown really took hold this year and August should be seen in isolation due the distractions of the Olympic Games and the summer Bank Holiday getaway. September is typically a busy month and so far, the market is off to an even busier start as we have the highest supply of property for sale in five years which coincided with a resurgence of applicants looking to capitalize on the increased amount of choice."
Looking at the figures from a regional standpoint, Hamptons International's South Eastern region, across Surrey and Sussex, saw a five per cent drop in buyer registrations in August but experienced seven per cent more viewings and eight per cent more offers when compared with the same time last year. Howard Bettridge Regional Director at Hamptons International says: "Although applicant levels dropped throughout August, the increased viewing and offer figures highlight that confidence and motivation has improved. vendors should be encouraged that registered buyers are serious about their property search. This motivation, coupled with increased stock levels means optimism is high for a healthy Autumn sales market."
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