There are less properties listed in the UK than a year ago.
OnTheMarket data published by Knight Frank has found that the number of homes listed today is 33% less, whilst the number of flats is 7% higher.
Tom Bill, head of UK residential research at Knight Frank, commented: “The current supply shortage represents a bumpy exit from the pandemic and tells us very little about how the property market is going to perform over the next 12 months.
“The last year has shown the importance of looking beyond short-term distortions in the property market.”
Less properties were listed at the start of the year amid ongoing uncertainty around the pandemic, as well as parents homeschooling children and reluctant to put their homes up for sale.
Demand has remained high over the year and when properties are up for sale, they have sold quickly.
