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New housing stock jumped 11% in June: Haart

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  • 12/07/2017
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New housing stock jumped 11% in June: Haart
New property listings rose by more than 11% from May to June across England and Wales according to the latest figures from Haart, though the numbers for sale remain down by 13% year-on-year.

The National Housing Market Monitor from Haart found that house prices rose 2.5% in the month, taking the average price to £233,954. In addition, new buyer registrations jumped by 8.6% from May. Nonetheless registration numbers are down by more than 20% on an annual basis.

Paul Smith, chief executive officer of Haart, suggested that the June data is a sign that the property market is enjoying a post-general election boost, and served to contradict predictions from some areas of a coming house price crash.

He continued: “Clearly neither Brexit nor the general election result is having much of an influence. Our recent survey of over 2,000 home owners found that Brexit has had no impact on over 75% of Briton’s decisions to buy or sell a property, and this month we saw new buyer registrations jump up 10% on the month, and even new stock coming onto the market is up 11% in England and Wales. Green shoots are also finally emerging in London, where stock is up a huge 14% on the month.

“However unaffordability still remains too big a barrier for many, and this will not be resolved until we improve housing supply on a bigger scale than ever seen before. This can only be achieved when we resolve the gridlock that is house building, and introduce incentives for greater fluidity in the market.”

Haart’s data is at odds with figures released by online estate agency HouseSimple yesterday, which claimed that the number of properties for sale had fallen by 1.9% in June, with the firm claiming that the election and post-Brexit jitters was scaring buyers off.

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