Buyers outweigh sellers by factor of eight

Posted: 15 Mar 2007 10:00:11 GMT


            Property News - Buyers outweigh sellers by factor of eight

Would-be buyers in the UK outnumber sellers by a factor of eight, research for Hamptons International has said, with numbers "showing no sign of abating".

Would-be buyers in the UK outnumber sellers by a factor of eight, research for Hamptons International has said, with numbers "showing no sign of abating".

The number of registered buyers has grown 38 per cent in London so far this year, while the number of properties for sale has dropped 50 per cent.

Shortages are becoming a vicious circle said Hamptons, with sellers unwilling to put their properties on their market until they are certain that they have found a new home.

"The continued imbalance in supply and demand is beginning to have a real impact on the areas people are looking to buy," said a Hamptons spokesperson.

"Across the south-west, the more affordable locations in the region such as Stroud and Malmesbury are now becoming extremely sought after."

The number of viewings in February rose 72 per cent while valuations rose 30 per cent, and the number of formal offers being made on property were up 67 per cent.

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