Stock levels are continuing to rise, according to OnTheMarket.com.

The property portal said that, since February, there has been a consistent week-on-week increase in stock levels, with the highest level of available stock in July compared with any time during the previous 12 months.

It added that, with seasonal effects coming into play this summer, as more potential buyers are on holiday, this may have the knock-on effect of stock levels continuing to improve.

Confidence remains high

Consumer confidence also remains robust, according to OnTheMarket.com.

It found that three-quarters of active buyers were confident that they would purchase a property within the next three months.

And eight out of 10 sellers were confident that they would sell their property within the next three months.

And they’re right to remain bullish, as homes are still selling quickly – 57% of properties were Sold Subject to Contract (SSTC) within 30 days of first being advertised for sale, compared with 56% in July 2021.

In July, only 4% of movers were concerned about securing a mortgage to fund the purchase of their next property, unchanged when compared to June 2022 (4%).

Jason Tebb, CEO of OnTheMarket.com, said: “With sellers remaining confident despite summer holidays and political upheaval, and buyers keen to secure mortgage rates before they edge out of reach, all signs point to a housing market that is ticking along, albeit with the return of seasonal norms.”