Matt's Insights

Year on year comparisons

Thanks to Rightmove data team for sharing this with me.

I wanted to look at a snapshot of the total number of listings each year in the same month – I’ve picked June and here you have it…

Market confidence remains, without any stamp duty incentive from the government you can see there’s just 4% difference in Sold(STC) figure.

In June 21, 214,530 transactions completed (non-seasonally adjusted). Spurred on by the original end date to the Nil Stamp Duty Holiday.

The Press have reported that completions were 55% down in June 2022 vs June 2021. At 95,420 they were, but that’s nothing to panic about – in June 2019 it was 100,340 so we really are back to a normal period (no war back then – just Brexit decisions).

The bit you can’t see in the numbers is the real log jam in the sales pipelines, vendors not able to find what their looking for, chains becoming protracted, burnt out solicitors and lack of oomph from the key players to get deals over the line. More stock coming to market can’t come soon enough.

If you are considering selling, you will still get a top price. Don’t fall in to the trap of being too aggressive with your asking price. You’ll now expect to get 2, 3 or 4 offers instead of 13, 14 or 15 last year.

Drop me a line if I can be of any assistance.

Nicol & Co