The UK’s largest property site, Rightmove, has shared New Year’s supply hotspots where the number of new properties coming to market has increased. At the end of last year, demand exceeded supply, with the tuner of homes for sale falling to record lows. Estate agents had an average of 14 properties on their books, according to research by Rightmove in December.
The platform said it was the lowest level of homes for sale by real estate agency since its records began in 2004.
Now, it looks like the supply of new homes is gaining momentum, with one area in particular seeing new properties coming onto the market nearly double that of the same period last year.
Bexhill-on-Sea in East Sussex has seen the number of new sellers entering the market increase by 88% compared to the same period in 2021.
The quiet seaside town is located near Eastbourne and Brighton, and is an ideal location for London commuters with the capital just an hour and 40 minutes away by train.
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“These new sellers will be welcomed by many enthusiastic buyers, as data shows that the number of requests for homes for sale is even higher than at the same time last year.
“This means that while the growing number of new homes for sale will be welcome, buyers will face fierce competition for available properties and need to act quickly when a property they love comes on the market.”
New supply hotspots:
1. Bexhill On Sea, East Sussex
2. High Peak, Derbyshire
3. Chelmsford, Essex
4. Burton-On-Trent, Staffordshire
5. Sutton Coldfield, West Midlands
6. St Albans, Hertfordshire
7. Nuneaton, Warwickshire
8. Shrewsbury, Shropshire
9. Leigh-On-Sea, Essex
10. Bradford, West Yorkshire
11. Fareham, Hampshire