In the wake of the Autumn Budget, the UK property market has witnessed a significant surge, marking a pivotal moment for home listings.
- Research by Yopa indicates 84,000 homes have entered the market recently, an 11.4% increase over the last two weeks.
- Scotland, the North East, and London lead with notable boosts in available properties since the budget’s announcement.
- A sense of lingering uncertainty among sellers prior to the budget has dissolved, prompting a flurry of market activity.
- With no extensions to Stamp Duty relief, buyers are urged to act swiftly before the 31st March deadline.
Following the recent Autumn Budget, the property market in Britain has witnessed an influx of 84,000 homes being newly listed. This development constitutes an 11.4% rise in the availability of properties, as highlighted by Yopa’s comprehensive research. Such a significant increase suggests a renewed confidence in the housing market post-budget.
Every region across Britain and major cities analysed have reported increases in their stock levels. Scotland takes the lead with the highest increase at 12.7%, closely followed by the North East and London, both exhibiting over 12% growth. In contrast, Wales experienced a smaller yet noticeable increase of 9.5% within the same period.
Yopa’s data reveals Glasgow as the frontrunner among the 15 cities evaluated, with an impressive 13.4% growth in home listings. Nottingham, Edinburgh, and Brighton also saw considerable increases between 12.5% and 13.3%, indicating a widespread boost in market activity across urban areas.
Verona Frankish, CEO of Yopa, remarked on the recent shifts, stating, “There’s always a sense of uncertainty in the run up to a major Budget and so it’s hardly surprising that many home sellers may have been sitting on the fence to see just what Chancellor Rachel Reeves had up her sleeve for them.” Such sentiments appear to have been compelling enough to deter sellers until post-budget outcomes became clear.
With no changes announced regarding Stamp Duty relief, potential homebuyers are now strategically positioning themselves to capitalise on the current market conditions. Frankish anticipates increased demand as buyers aim to finalise purchases before the looming deadline set for 31st March of the following year.
The post-budget property market surge underscores a response to fiscal policies and anticipates buyer urgency.
