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Shortage Of Properties For Sale

February 2, 2017
Shrugging off the uncertainty of the initial post Brexit vote, we have seen a decrease in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy to let landlords have been returning in the last few month’s – proof the market is beginning to bounce back. So let’s look at the numbers .. In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 163 properties for sale in B23. In November 2015, there were 199 properties for sale, a drop of 18%. When I split it down into bedrooms (note things like building plots and part commercial/part residential etc won’t be in these figures so the numbers below won’t exactly match up to those in the above paragraph).  
# Properties on the market in Nov 2015 # Properties on the market in Nov 2016 Per cent Change
5+ Bedrooms 6 7 +17%
  4 Bedrooms 13 12 -8%
  3 Bedrooms 89 70 -21%
  2 Bedrooms 69 55 -20%
  1 Bedroom 19 13 -32%
  .. and when I looked at type of properties  .. it got even more interesting  
Type of Property # Properties on the market in Nov 2015 # Properties on the market in Nov 2016 Per cent Change
Detached 20 11 -45%
  Semi 64 54 -16%
  Terraced 50 46 -8%
  Flat 56 44 -21%
As you can see, there has been some interesting movement in the number of flats and semi detached properties on the market, which means there has been greater demand from first time buyers and landlords – meaning buyers are continuing to show confidence in the Erdington property market.
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