Guy Gittins, CEO of Chestertons, added that May’s market performance stood out because of the “rare scenario” of supply meeting demand. Chestertons’ branches had 38 per cent more properties on the market compared to May last year, whilst the cumulative number of buyers entering the market is up 31 per cent year to date.
“Normally, the UK’s housing market demonstrates a clear imbalance between these two indicators with demand often outstripping supply. This has helped to translate demand into actual sales, with us seeing a 9 per cent increase in sales in May compared to April,” Gittins said.
Viewings at a five-year high