Rise in property for sale
Nearly a quarter of a million new properties were made available between April and June, up 3% on the same period last year.
The firm’s latest data also highlighted the lack of affordable property on the market for first-time buyers and families on stretched incomes – especially in London.
Owners of high end properties – those valued at more than £500,000 – put their homes up for sale in increasing numbers. Across the UK, the number of homes put up for sale in the £500,000 to £750,000 price band increased by 17% while houses valued £750,000 plus increased by 5%.
In central London the increase was 18% in £500,000 to £750,000 properties, with a 25% increase in Greater London.
However, there was a significant decline (44%) in the number of new properties for sale between £100,000 and £250,000 in central London.
Just shy of 2,000 properties came onto the market in this price band. It was a similar story in the Greater London region, with a decrease of 25% and a little over 1,500 newly listed properties available.
Overall, the number of homes priced between £100,000 and £250,000 being put up for sale, and houses valued under £100,000, saw decreases of 3% and 2% respectively.
Andy Wills, data director at Experian Consumer Information Services, said: “As the housing squeeze continues to impact first and second time buyers as well as growing families, putting yourself in good financial shape and having a strong credit score is vital to securing the mortgage you need.”