3 Dec

Supply and demand imbalance pushed up November house prices

Supply and demand imbalance pushed up November house prices

November witnessed a 0.5 per cent house price increase, as the growing supply and demand imbalance further affected the market, a recent index revealed.

Estate agents across the UK will be fully aware of an increase in demand, which has been encouraged, in part, by the Help to Buy scheme and the positive signs of a recovering property market.

Official figures from Home Track’s latest index revealed that demand grew by 3 per cent in November, but that sales dropped by 3.5 per cent due to a lack of suitable stock being available.

On a larger scale, the last 6 months has seen a 10.2 per cent increase in property demand, with a 0.6 per cent decline in supply.

The report has also shown that the last 12 months have seen house prices in regions outside of London rise steadily off a low base as demand picks up. This is is considered a shift from the previous trend of falling house prices outside of the capital.ADNFCR-1222-ID-801668282-ADNFCR

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