Number of homes for sale at an eight-year high as general election looms

manchestereveningnews.co.uk:

The amount of homes for sale across the country is at an eight-year high ahead of the general election, in a trend which experts say will limit house price rises for the rest of 2024.

Zoopla's latest house price index has revealed that the UK is currently experiencing the highest supply of homes for sale since 2016, with the average estate agent having 31 homes for sale, which is up by 20 percent on this time last year.

This equates to around £230 billion-worth of homes on offer, as sellers continue returning to the housing market in growing numbers.

The property site also predicts that the 4th July General Election will have less impact on the housing market than during previous election periods. READ MORE: Best places to buy a house in Greater Manchester right now according to estate agents According to Zoopla, many homeowners delayed moving in the second half of last year, as the impact of higher borrowing costs on house prices and buyer demand knocked confidence.