Eight buyers for every seller in UK housing market

There are eight buyers for every seller in the UK housing market, a leading estate agent reports.

Research by Hamptons International reveals the imbalance in supply and demand is "showing no sign of abating".

In London there is a 38 per cent rise in registered buyer numbers in 2007 while the level of properties for sale has dropped 50 per cent.

There are also reports of sellers deciding to not to put their home on the market until they see a suitable property to buy.

The number of offers being made on properties has also risen - up 67 per cent.

In February there was a 72 per cent increase in viewings and a 30 per cent rise in valuations.

"The continued imbalance in supply and demand is beginning to have a real impact on the areas people are looking to buy," the estate agent explained.

"Across the south-west, the more affordable locations in the region such and Stroud and Malmesbury are now becoming extremely sought after.

"Previously shunned by potential buyers from London and the Home Counties in favour of Bath and Cheltenham, these areas are now receiving considerable interest and regeneration."

Julian de La Poer Beresford, Hamptons International south-east director, added: "Given the uncertainty over the launch of the government's Hips [Home Information Packs] on June 1st 2007, I am confident the momentum in the market will slow over the next 12 months, with house price growth settling around seven per cent for 2007."