Property News

New property listings up by more than 10% in September

Ryan - October 5, 2016

New property listings in Britain rose by more than 10% month-on-month during September.

In fact, more than two thirds of UK towns and cities experienced a rise in supply, according to latest research conducted by online estate agent House Simple.

Increases

Total supply rose by 10.4%, with the largest increases reported in Basildon, Essex, where supply rose by a substantial 68.1%. London saw a rise of 16.5%.

Hereford also saw a massive increase, with supply up by 58.3% and in Lichfield, there was a rise of 53.5%. In Hemel Hempstead, property listings were up by 52.2% and in Truro 48.3%.

At the other end of the scale, supply in Falmouth, Cornwall slipped by 27.5%. Other notable falls were evident in Sutton Coldfield (-25.8%), Ely (-22.9%) and Stockton on Tees (-22.2%).

New property listings up by more than 10% in September

New property listings up by more than 10% in September

Post-Brexit high

The property market in the UK continues to defy predictions of post-Brexit chaos, returning to some kind of normality following the traditional summer drop.

Alex Gosling, chief executive officer of House Simple, noted: ‘The figures don’t show an uplift in new listings after a typically slow August. The more than 10% boost in new properties is evidence of a resilience in the housing market that many didn’t expect. Many clearly believe that the market is strong enough to sell in despite the ongoing political uncertainty.’[1]

‘What was a sellers’ market before the European Union membership referendum vote and buyers’ market in the initial months after it may now be somewhere in between. This is no bad thing,’ Mr Gosling added.[1]

[1] http://www.propertywire.com/news/europe/new-property-listings-10-uk-month-month/