Recent research conducted by estate and lettings agent Barrows and Forrester has revealed that 2023 has seen a big rise in the number of homeowners looking to sell their property. As a result, the total number of homes being listed for sale has risen exponentially.

The analysis showed that during the last 14 days, an approximate total of 87,000 homes have been listed for sale across the UK, a significant increase of 89% in comparison to the 46,092 listings that had made their way into the market at the start of the current year.

This sudden surge in the number of homes listed for sale follows a considerable decline of 46% in new stock levels, specifically between November and January of this year. This decline followed Chancellor Kwasi Kwarteng's disastrous mini-Budget, announced last September.

It has been observed that all regions across Britain have seen a significant increase in the number of new homes being introduced into the market since January, and every region apart from London has successfully surpassed the benchmark set in the previous November.

According to James Forrester, who is the managing director of Barrows and Forrester, “Following the shambles that was last September’s mini-Budget, many sellers put their plans on hold as uncertainty enveloped the property sector. This led to the level of stock reaching the market across Britain falling by almost half and only added fuel to the fire of a potential downturn. However, we’re yet to see this downturn materialise where any notable decline in house prices is concerned and with stability returning to the market, it’s clear that it’s business as usual in 2023. Sellers are acting with a renewed level of confidence and pushing ahead with their sale, resulting in a considerable increase in available stock across the board.”