There has been a huge drop in available homes for sale in Bristol. This is according to property purchasing specialist House Buyer Bureau, which released its latest data this week.
Figures show that there was a 21% decrease in available sale stock in Bristol in the last year. This trend has continued into the first six months of this year with the data showing that the number of homes for sale on the Bristol market decreased by 9% between the first two quarters.
These figures were in stark contrast to the rest of the UK - the data showed there were a total of 720,540 properties on the market across England in the second quarter of the year. At the same time last year there were 660,513 homes on the market, meaning sales stock has surged by 9% across the country.
But the situation varies from county to county, the Isle of Wight has seen the largest percentage increase in the country at 27%.That’s followed by Shropshire (25%), Herefordshire (24%), Cornwall (24%), Lincolnshire (24%) and Devon (22%). You can see the situation using our interactive map.
While the number of properties for sale in Bristol has fallen by 21% in the past year, the other two counties recording a drop of available sales were in Greater London where numbers have fallen by 3%, while in Berkshire they’re down 1%.
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Managing director of House Buyer Bureau Chris Hodgkinson, said: “With the exception of Bristol, every county in England has seen the level of available for sale stock climb since the start of the year. This demonstrates the altogether different landscape sellers are facing when compared to 2022.
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“Buyers are acting with far less enthusiasm and, as a result, homes are taking longer to sell, or attracting little to no attention whatsoever. This has inevitably led to an oversaturation of for sale stock and this will naturally cause a further reduction in property values as the bidding wars of the pandemic boom fade into memory.
“So while this may be good news for the nation’s buyers, those looking to sell are facing a far tougher challenge. Many are unwilling to adjust their price expectations, but this is the reality they face if they want to sell their home quickly and before any further dent to property values materialises.”
