Real estate markets are driven by a number of factors however the two basic fundamentals of supply ( the number of total properties for sale ) and demand ( the number of buyers active in the marketplace ) play a significant role in establishing market conditions that favour sellers or buyers .
In general terms , when supply is low and demand is high , these conditions are favourable for sellers . Conversely , when supply is high and demand is low , these conditions are favourable for buyers . So what are we seeing now ?
New listing authorities
The number of new listing authorities over the past 28 days has increased by 0.53 per cent . This shows a steady volume of new stock is now coming onto the market
Total available listings
Although there is a steady supply of new listings coming onto the market , the total available supply of property has declined by 8.31 per cent compared to this time last year . Stock levels at the moment are favouring our sellers .