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New listed properties fall for first time since December – HouseSimple

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  • 04/07/2018
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New listed properties fall for first time since December – HouseSimple
The number of new properties coming onto the market in June dropped by 3.8%, the first monthly fall seen since December 2017, according to the latest Property Supply Index from online estate agent HouseSimple.

 

Salford saw the biggest drop, with new listings down by 32.8% on May, followed by Chichester (29.3%), Shrewsbury (28.9%) and Runcorn (25%). In total three quarters of the towns and cities measured by the index saw a monthly fall in new listings.

However, some areas saw a sharp increase in listings. Lichfield for example saw listings jump by 27.6%, while listings in York rose 25.7%.

Despite the fall, June was the second month in a row in which there were more than 70,000 new listings – in total 70,775 new properties were marketed by agents, compared to 73,577 in May.

Indeed, on a year-on-year basis listings across the UK were up by more than 60%.

Sam Mitchell, chief executive officer of HouseSimple, noted that seller activity has picked up noticeably since mid-May, particularly in London, where prices have cooled.

He continued: “More than ever, the key for motivated sellers is to price correctly and competitively to attract buyers. It’s important to do your research, to check what properties are selling for on your street and in the nearby area. This is probably not the right market to price high, hoping to squeeze a little more money out of buyers.

“Although we are seeing real intent from buyers to purchase, even with Brexit looming, they are more willing to move onto the next property, or wait-and-see, if they believe the price is too high.”

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