Homesellers sitting tight as stock levels drop

Latest data has revealed which postcodes are currently ranking as the nation’s home selling hotspots. Findings show that the average number of homes listed for sale per estate agency branch across Britain have dropped.

Our data looks at the average number of properties listed for sale per branch in every postcode across Britain this year, observing the level of ‘for sale’ stock and how this has changed since 2021.

We have found that, across Britain, the pandemic property market boom has started to subside. So far in 2022, there has been an average of 7.3 homes listed per estate agent branch across Britain - a -12.5% drop compared to the 2021 average of 8.4 homes.

Which areas have seen the largest reduction in market activity?

The Exeter postcode of EX38 has witnessed the largest reduction in market activity, with just one home listed for sale per agency branch versus 14.3 in 2021 - a massive 93% drop.

Other areas to have seen a drop in listing levels include the LL15 postcode of Denbighshire - with a 92% drop so far in 2022. This is equal to just 1.7 listings per branch versus the 22.7 that were seen in 2021.

There have also been reductions in the ST13 postcode in Staffordshire (-89%), IV36 in Moray (-87.8%) and YO43 in the East Riding of Yorkshire (-83.9%).

While there has been a massive reduction in property listings, some agents are still feeling the heat of the pandemic boom.

What areas have seen an increase in listings?

While many areas have seen a drop in listings, other postcodes throughout the nation have experienced an increase. The BB5 postcode of Hyndburn has seen a 635.6% increase, with the average listing being at 12.8 homes per branch.

In the Vale of White Horse, the average branch in the SN7 postcode has experienced a whopping 430.9% increase.

Other areas to have seen a largest increase in listings per agent branch include, the G65 postcode in North Lanarkshire (+351.%), S18 in North East Derbyshire (+338%) and South Ayrshire’s KA26 postcode (+300%).

A clear reduction in market activity - GetAgent CEO Colby Short

_“We’re starting to see strong signs that the heightened levels of market activity driven by the nation’s homebuyers is now starting to subside ever so slightly, most notably by way of a reduction in mortgage approvals. _

As our analysis shows, there has also been a reduction in market activity on the side of the nation’s sellers so far this year, with available stock levels dwindling quite significantly in some areas.

Of course, with the market already suffering from a drought of its own with respect to available stock, a further reduction should ensure that the scales of supply and demand remain out of balance. As a result, property values are likely to remain robust despite the wider pressure of a cost of living crisis.”

Data and methodology

• Average listings per branch