THE number of home owners selling up rose in May, as they tried to secure offers before the annual summer slowdown, says an industry body.
NAEA Propertymark, the National Association of Estate Agents, says demand from househunters was also up, as buyers sought to get offers accepted.
The number of properties available to buy increased by 12 per cent in May, as sellers anticipated the slowdown and raced to get offers secured, said the professional body.
The market is typically quieter over the summer months, it explained, as buyer and sellers head abroad. Supply of houses for sale has increased every May since 2015 in line with this trend.
There were an average of 37 properties for sale per estate agency branch in May, up from 33 in April.
This compared to 40 in May 2017 - and 97 ten years ago.
Demand from prospective buyers increased from 337 in April, to 351 in May, as house hunters set out to have offers accepted before their holidays
Mark Hayward, chief executive of NAEA Propertymark, said: "We see this every year. House hunters desperate to get their offer accepted, and sellers on a mission to find suitable buyers, flock the market in May. They’re hoping to get everything tied up so they can enjoy their summer holidays without worrying about viewings.
"But those willing to be more flexible might do well to hold off until the market’s quieter in July and August. Not everyone heads abroad over the summer, with lots of people opting for winter sun instead, so while the market is undoubtedly quieter, competition is a little less intense, which might better suit some buyers and sellers."
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