Sellers exceed buyers in UK property market
By Steve Binge

Sellers exceed buyers in UK property market

The number of properties for sales in the UK market far exceeds the amount of buyers in the majority of regions, a new report has found.

This is according to figures published by Rightmove, which noted that London is the only market in which buyers are in plentiful demand.

A weekly average of 28,390 properties entered the market in April - up nine per cent on 2009 figures. The increased seller numbers has resulted in the biggest monthly jump in agents' unsold stock since May 2007, Rightmove added.

"This is a clear indication that the number of properties available to buy is not being matched by the number of buyers able to proceed," said Miles Shipside, director of Rightmove.

"With buyers still struggling to raise the necessary finance, the net result has been the biggest jump in unsold stock on agents' books that we have recorded in nearly four years."

The news follows recent comments from Jon Brown, partnership manager at iammoving.com, who suggested that a lack of demand from domestic property buyers in the UK means that house prices in the country are likely to remain at the same level as they are currently at until 2012.

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