The rate at which houses that are sold are being replaced by new stock seems to be close to 1:1. In July, house were selling at the rate of 2,645 a day across the UK and being replaced by new instructions coming on at the rate of 2,964.
There are always more houses coming onto the market than actually sell. The rate of sales per day has fallen from 4,935 in July 2007 whilst the peak rate of resupply in July was 7,524 in that same year.
The gap was largest in March 2005 when houses were coming onto the market at the rate of over 9,000 a day. They were only selling at around 3,138. In June 2006 estate agents were at their busiest with houses selling at the rate of 5,500 a day.
Today there are about 728,000 individual homes on the market across the country.