New data from Home Sale Pack reveals a significant 22.9% increase in the number of new homes listed for sale across Britain, as sellers aim to capitalise on the market before the potential post-election rush.
Surge in Listings Nationwide
The analysis compared the number of homes listed in the last 14 days to those listed at the start of the year. Currently, 810,353 homes are on the market in Britain, a 22.3% increase since January 2024. Of these, 102,035 were listed in the past two weeks alone, marking a notable rise from the 83,033 homes listed at the start of the year.
Every region in Britain has seen an uptick in new listings. Scotland leads with a 36.4% increase, listing 5,060 homes in the last two weeks. The South West follows with a 32.2% increase, while Wales (29%), the South East (24%), and London (23%) also saw substantial growth. The South East and London reported the highest actual number of new listings, with 17,521 and 13,821 homes, respectively. The North East experienced the smallest increase, yet still saw a 12.6% rise in new homes hitting the market.
Market Dynamics and Seller Strategies
Ruth Beeton, Co-Founder of Home Sale Pack, commented on the findings: “Summer is traditionally a busy time of year for the UK property market and with a recent return to form following a period of muted activity, it looks to be a summer of greater stability for homebuyers and sellers.”
Beeton noted that while the general election isn’t expected to significantly impact overall market health, some buyers are holding off in hopes of election-related cost-saving measures, such as potential stamp duty reductions. “With this in mind, it certainly seems as though a number of sellers are getting their house in order ahead of polling day to take advantage of any post-election surge in market activity, with the number of new homes reaching the market in the last 14 days sitting considerably higher than the start of the year,” she said.
Preparing for Post-Election Market Activity
Beeton advised sellers to list their properties now to avoid delays in the transaction process, particularly during the conveyancing stage. “They are wise to do so, as any increase in market activity is likely to cause lengthy delays to the transaction timeline, most notably during the archaic conveyancing process. So getting ahead of the game now is the best way to minimise any delay to your sale.”
The significant rise in new property listings ahead of the general election reflects sellers’ strategies to stay ahead of a potentially busy market period. As the political landscape evolves, the housing market is poised for a surge in activity, making early preparation crucial for both buyers and sellers.
