Haart has blamed a lack of new stock for sale as a factor pushing more people into renting.
Figures based on activity among haart branches during May found that the number of tenants entering the market across England and Wales rose by 6.7% on the month and by 5.5% annually.
There was a 30.6% spike in tenant demand in London, according to haart.
In comparison, despite its overall buyer registrations increasing 3.8% annually, the number of first-time buyers on the market was down 18.1% annually as supply of stock for sale fell 5.9% compared with May 2018.
Buyer viewings were also down 16.5% annually, while exchanges fell 1.6%.
I think you will find they are buying NEW not second hand and this has been heavily distorted by Help to Buy. The HMLR stats show 80% of all FTB’s buying New. The Government could and should extend H2B to the secondhand market thus creating chains and stimulating the stagnant mid-market. Win Win.
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