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New property listings up by 3.4% in July
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
The latest report from online estate agents HouseSimple.com has discovered that new property listings recovered during July.
Data from the investigation shows that new listings increased by 3.4% during the month across the UK. In London, there was a substantial 13.7% rise.
New to market
In order to compile the Index, HouseSimple analysed more than 500,000 listed properties, to track numbers of new properties marketed each month. This research took place in more than 100 major towns and cities across Britain and all London boroughs.
As Brexit uncertainty took hold in June, new supply of properties was down by 7.3% across the UK and by 12.8% in London. It seems however that in the last month, sellers returned to the market, despite ongoing speculation about the impact of leaving the EU.
Supply of new property was up in 62% of towns and cities involved in the report. The most significant rises were seen in Durham and Hartlepool in the North East.
The top-ten UK towns and cities in terms of rises in new property listings during July in comparison to June were found to be:
| Town/City | Region | % rise in new listings in July vs. June |
| Durham | North East | 51.0% |
| Hartlepool | North East | 32.5% |
| Hemel Hempstead | East | 31.7% |
| Hereford | West Midlands | 28.6% |
| Weston-Super-Mare | South West | 25.6% |
| Chesterfield | East Midlands | 24.3% |
| Worthing | South East | 24.0% |
| Slough | South East | 23.3% |
| Doncaster | South Yorkshire | 23.0% |
| Bath | South West | 22.6% |
New property listings up by 3.4% in July
Business returning
Alex Gosling, CEO of online estate agents HouseSimple.com noted, ‘it’s been business as usual after Brexit in terms of activity, with many sellers who were waiting on the result of the Referendum, now actively marketing their properties. The reality is that people need to sell for a whole host of reasons and delaying post-Brexit is simply not an option if people are relocating for work or family reasons.’[1]
‘On the ground, what was probably a sellers’ market before the vote is now going to be a more level playing field. That doesn’t mean that quality properties in desirable areas won’t still sell for close to or at asking price, but buyers are holding a few more cards now and motivated sellers may need to more flexible on price negotiations,’ he added.[1]
[1] http://www.propertyreporter.co.uk/property/july-property-supply-sees-rise-of-34.html
