Revealed: Hertfordshire's property supply shortage hotspots

The Old Mill, London Road, Berkhamsted (Picture: Karyn Haddon)

Berkhamsted saw a 58 per cent surge in sales being agreed over the last year, and a 57 per cent drop in new sellers. - Credit: Archant

Two Hertfordshire towns have been named among the areas of England currently experiencing the greatest shortage in property supply.  

Berkhamsted was in second place on Rightmove's list of 10 supply shortage hotspots, while Bushey was seventh. 

The rankings were based on the biggest changes in the number of homes being marked 'sold subject to contract' and the number of new sellers putting their properties up for sale in July, compared to a year ago.

England's supply shortage hotspots. 

England's supply shortage hotspots. - Credit: Rightmove

Newmarket in Suffolk topped the list, with a 79 per cent increase in sales agreed over the last year, and a 49 per cent drop in new sellers coming to market.

Berkhamsted saw a 58 per cent lift in agreed sales, and a drop of 57 per cent in new sellers, while Bushey saw sales up by 53 per cent and new sellers down by 49 per cent.

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All three areas recorded a 9 per cent increase in asking price since July 2019. 

Across England, the average available stock per agent on Rightmove dropped from 29 in July 2020 to just 16 this year. 

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Tim Bannister, Rightmove's director of property data, said: "If we think back to July last year the market in England had been open again for around six weeks, the stamp duty holiday was announced, and a summer frenzy was just beginning.

"12 months on, the combination of fewer sellers coming to market and sustained demand has resulted in a summer seller shortfall, and so the challenge for agents now is to try and replenish the stock to meet the demand from buyers."

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