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Surge in supply of properties for sale in Seaside towns, Zoopla finds

Document Cited in Related
Vincent
Published date23 April 2024
Publication titleDaily Mirror, The: Web Edition Articles (London, England)
Home-buyers will now find an increased choice of properties, although they may also notice a rise in prices. Across Britain, the choice of properties has risen by around 20% compared to last year, according to Zoopla. The property website noted a particularly strong increase in supply in locations such as Cornwall; Bournemouth, Christchurch and Poole in Dorset; and North Kesteven in Lincolnshire

Zoopla added that estate agents in the South West of England typically have about two-and-a-half times as many homes for sale now as they did in spring 2022. The website suggests that the strong house price growth in some areas over the past five years may be encouraging some people to sell.

In Cornwall, property prices have risen by more than a quarter 27% on average, while prices in Bournemouth, Poole and Christchurch have jumped by a fifth 20%, according to Zoopla. There are also indications that the increase in supply is affecting the time it takes to sell a property.

In Cornwall, it is typically taking 20 days longer on average to sell a property compared with spring 2022, and 23 days longer on average in Bournemouth, Christchurch and Poole, Zoopla reported. The website also highlighted that in Wales, commuter-friendly spots like Caerphilly and the Vale of Glamorgan are seeing a surge in property listings as...

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