Estate agency stock has hit the highest level since February 2021, new figures from the Royal Institution of Chartered Surveyors (RICS) has revealed.
The latest RICS Residential Market Survey for February showed average stock levels on estate agents books now sit at 42 properties, the highest since February 2021, with respondents noting an increase in market appraisals over the month relative to the same period last year.
A net balance of +21% of respondents recorded a rise in new instructions, the strongest reading since October 2020, in contrast to the continuously negative picture cited throughout 2023, RICS said.