Housing supply exceeds demand according to new research

Supply of housing has grown three times faster than demand, according to research published by property analyst Hometrack today.

Six out of ten English regions have seen demand fall this month, while new supply has grown 15 per cent compared to a 4.9 per cent increase in demand.

Growth in demand has been slowing for the past four months, said Hometrack, with the run up to the general election, pre-budget talk of austerity measures and a continuing lack of mortgage finance all contributing to market uncertainty.