The number of new property listings in the UK fell by 13.2 per cent to 51,809 in August, down from 59,710 in July.
London listings dropped 19.9 per cent making it the fastest falling region and dragging down the UK average, the latest Property Supply Index from online estate agency Housesimple reported.
Listings nationally, excluding London, fell by 8.7 per cent.
Listings in Scotland and the North East held up the best, with drops of 2.1 per cent and 2.4 per cent respectively during August.
Sam Mitchell, chief executive at Housesimple, said that the decline in new listings was to be expected during August when homeowners go on holiday and that September was traditionally among the busiest months of the year.
“The interesting question is how much listings will bounce back in September. We usually see a 15 to 20 per cent increase in listings between August and September. However Brexit uncertainty may impact new listings, or on the other hand, vendors may look to push ahead before the Brexit deadline on 31 October.
“Our advice to sellers is to keep calm and carry on. People generally move for a specific reason such as a bigger house for a growing family, a new job or a new school. Life does not wait for politics and neither should sellers.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
