Lincolnshire

Lack of stock still an issue for Lincolnshire agents amid rise in sales

Lincolnshire estate agents say they need more stock to sell as they recorded increased sales in the last month.

The number of properties coming on to the market in the East Midlands dropped further according to the March 2017 RICS UK residential market survey, which also indicated the housing market continues to lack impetus, with new buyer enquiries and agreed sales stagnant.

The picture from Lincolnshire is slightly different.

Simon Bentley, Senior Partner at Mundys, said: “We have found the Lincoln market to be very different to this and have just had our best ever sales month.

“In March we sold 60 houses, beating our previous record of 54, and saw a record month in other areas with registered applicants increasing by 18% and viewings increasing by a massive 35%.

“I feel these figures clearly show that while the property market in other areas is struggling, here in Lincoln the market is buoyant. Lincoln seems to be going through a golden era with much investment coming to the city and an influx of tourists.

“Our sales in March saw 13% of the properties being sold to applicants from out of the county and I feel the fantastic success of our football team has further boosted the city’s profile throughout the country which will hopefully lead to further enquiries.”

Pygott & Crone has a similar view, Senior Partner Tim Downing explained: “We’ve actually reported our best figures for nine months across our 14 branches Lincolnshire, so from our perspective sales are continuing to increase with strong demand, but we are concerned there is a lack of stock, which seems to be a national problem.”