New property listings in UK almost doubled in January

New property listings rose by more than double in 27% of UK towns and cities during January in comparison to December, according to the latest data released by online estate agent House Simple.

This growth was led by Lichfield, Edinburgh and Hastings, with growth in these regions totalling 268%, 173% and 169% respectively.

New Listings

Overall, the number of new properties listed across the UK in January was up by 93.3% month-on-month. More than twice as many properties came onto the market in London in January in comparison to December, with supply in the capital rising by 121.7%.

House Simple’s data was compiled from over 500,000 listed properties, with the number of new properties coming onto the market each month tracked in over 100 major towns and cities in Britain-including all London boroughs.

Other regions recording strong growth were Rochdale, Huntingdon, Eastbourne and Rugby, seeing rises of 167.5%, 156.5%, 147.3% and 141.5%

In the capital, while supply increased by 121.7%, the boroughs of Redbridge and Bromley saw the most prominent increases, of 216.5% and 184.5%.

New property listings in UK almost doubled in January

Relief

Alex Gosling, chief executive officer of HouseSimple said: ‘We expected to see property supply rise in January and it will be a relief that numbers have jumped because there were concerns that sellers jaded by Brexit talk, might be slow to market in January.’[1]

‘Although the numbers of new properties listed wasn’t through the roof, they were higher than November and only a little lower than October, so supply returned to pre-Christmas levels.’ [1]

Concluding, Gosling observed: ‘If the market’s response to the Brexit vote is anything to go by, the urge or need to move will mean it’s very much business as usual.’[1]

[1] http://www.propertywire.com/news/uk/new-property-listings-key-uk-towns-cities-almost-doubled-january/