Post-HIP jump in homes for sale
Agency Express has reported a 13.6% increase in the number of homes put up for sale in May, compared with April, leaving prospective purchasers their best level of choice in over two years.
The firm’s managing director, Stephen Watson, comments: “The decision by the new coalition Government to immediately suspend the requirement to have a HIP seems to have taken away a significant obstacle that has been discouraging homeowners from putting their properties up for sale.”
The company, which claims to be the UK’s largest “For Sale” board management contractor, also saw an increase in the number of properties sold, with May activity up 8.6% on April and rising 17.0% on a year earlier.
Regional hotspots for house sales were as follows: West Midlands up 25.8% on April; Wales up 24.6%; South West up 17.5%; North West up 16.2% and London up 13.0%.
Only the South East saw a fall in house sales in May, registering a 6.6% drop.
Birmingham was the UK’s best performing city with a 71.4% increase in the number of properties sold in May, compared with April, followed by Newcastle a 41.4% rise; Cardiff up 36.4%; Manchester up 28.4% and Exeter up 28.1%.
Regional hotspots for houses put up for sale in May are as follows: Wales up 27.2%; Scotland up 21.7% and the North West up 21.2%.
City-by-city, Southampton saw the greatest increase with a 48.4% rise in the number of homes put up for sale in May, compared with April, followed by Glasgow up 37.7%; Brighton up 34.6%; Cardiff up 31.1% and Carlisle up 28.2%.