Housing demand 'undersupplied by four times'

by Rachel Crook

Demand for housing in the UK is currently four times the supply, it has been stated.

Founder of property website Briffy.com David Amstell suggested that because of the lower values of homes, many people are waiting for prices to go up before they put them on the market, a similar situation to one which occurred over 30 years ago.

He said: "There's four buyers for every house, but the fact is that everybody's sitting on their houses because nobody wants to sell when the prices are low."

However, he noted, there are still "bound to be" bargains in the current market for buyers.

House prices appear to have stopped falling, according to some surveys.

These include the Hometrack data for May, which put the average at £155,600 - unchanged from April.

Published on: June 29, 2009

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