10-Year High In Housing Supply For Spring Buyers

 

Spring is traditionally one of the most opportune months for sellers to initiate their market activities. This year, an increased volume of supply entered the market in March, pushing competition in the sales sector to its highest level in a decade.

Recent data from Rightmove indicates that the number of new sellers entering the market has risen by 8% compared to the same period last year, marking the highest property choice available to buyers at this time of year since 2015. This influx is attributed to sellers aiming to capitalise on the traditionally active spring market, leading to a 1.1% increase in the average asking price of properties coming to market, now standing at £371,870.

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Factors Contributing to Increased Supply

Several elements have contributed to this rise in housing supply:

1. Easing Mortgage Rates: The stabilisation and slight reduction in mortgage rates have renewed confidence among homeowners, encouraging them to list their properties. ​
2. Policy Changes Affecting Landlords: Adjustments in tax regulations and compliance requirements have prompted some landlords to sell their rental properties, adding to the number of homes available for purchase. ​
3. Seasonal Trends: Spring traditionally sees an uptick in property listings as sellers aim to attract buyers during this active period.​

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Implications for Buyers

For those looking to purchase a home, this increased supply offers several advantages:

• Greater Choice: A higher number of listings means buyers have a broader selection of properties to consider, increasing the likelihood of finding a home that meets their preferences and budget.​
• Potential for Negotiation: With more properties on the market, sellers may be more willing to negotiate on price, especially if their property has been listed for an extended period.​
• Reduced Competition: An abundant supply can lead to less competition among buyers, thereby decreasing the likelihood of bidding wars and potentially resulting in more favorable purchase terms.​

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Considerations for Sellers

While market conditions are favorable for buyers, sellers should be mindful of the increased competition:

• Realistic Pricing: Setting a competitive and realistic asking price is crucial to attract interest in a market with abundant options.​
• Property Presentation: Ensuring the property is well-presented and in good condition can make it stand out to potential buyers.​
• Flexibility: Being open to negotiations and accommodating with viewing times can enhance the chances of securing a sale.​

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Looking Ahead

The current surge in housing supply provides a window of opportunity for buyers to explore a variety of options and potentially secure favourable deals. However, market dynamics can shift, and factors such as economic changes, interest rate fluctuations, and policy adjustments can influence housing supply and demand. Prospective buyers and sellers should stay informed and consider seeking advice from property professionals to navigate the market effectively.​

In conclusion, the decade-high increase in housing supply this spring offers promising prospects for buyers in the UK property market. By understanding the contributing factors and market implications, both buyers and sellers can make informed decisions to achieve their property goals.

Call us on 01795 429836 or email hello@quealy.co.uk for the best possible advice for your home move. 

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Sources: Dataloft by PriceHubble (poll of subscribers), Rightmove March 2025, Moneyweek, The Guardian.