How was (May) for you?

Here are the main housing market numbers for last month. These are gathered together from HMRC, Rightmove, Land Registry and elsewhere to provide a definitive guide to the health of the residential market.

By clicking on the chart above you can download the numbers and you will see the key points as follows;-

The total number of homes on the market has risen by 18% from May last year as the supply of new properties jumped by 56%.

The number selling has only increased by 15% leading to an increase in overall supply compared to demand.

Asking prices are only up by 5% compared to the average selling price which has risen by about 7%. (The gap between the average asking price and the average selling price has however which is usually around £40,000 is currently more than £70,000).

The number of homes selling in March (the most recent month for which we have complete numbers) for more than £1m in England & Wales has bounced back from a low last year of just 198 to 494.