Overall the volume of property for sale is now 38% lower than it was at the peak of the market in 2007. There are currently 481,000 properties for sale compared to 771,000 in late 2007.
More importantly, new property listings have reduced too. The monthly flow of new property has fallen 16.9% in the last year and 61% since 2007. Unsurprisingly, the biggest fall in stock is in the 'over heating' London market where the volume of new property has dropped 28.5% in the last year and a massive 74% since 2007.
All this means that landlords are competing with private buyers for less property. In the hotspots this is likely to drive selling prices upwards. Grabbing a potential buy-to-let bargain in 2014 could be about to get more difficult unless supply improves.
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