Property supply falls across the UK



New UK property listings have declined by 1.9% in June compared with May, according to new research.

The latest Property Supply Index by online estate agents HouseSimple.com has revealed that 81% of the 100 towns and cities analysed saw property supply fall during this period.

Dundee and Barnsley suffered the biggest falls of 48.1% and 39.3% respectively, while Lichfield and Hartlepool were two of the few areas that saw a rise – by 20.6% and 18.7% respectively.

Alex Gosling, CEO of HouseSimple.com, said: “Price growth has stalled, and sellers, it appears, are choosing to stay put, rather than accept marketing their properties at a lower price then they might have done a few months ago.

“Sellers maybe need a dose of reality, because price growth slowing should not be the only reason to hold off moving.

“The housing market overheated and it was inevitably going to cool at some point.

“If sellers are waiting for prices to go up again, that could be a long wait.

“If anything, homeowners should see this as a good climate to sell as long as they price correctly.

“If prices have dropped where they live, they are likely to have dropped – possibly by even more – in the area they’re planning to buy.”

London has also reported an increase in property supply of 5.3% across the boroughs, with Sutton boasting the biggest rise in new listed properties (54.1%) compared with May.

The biggest falls in UK property supply:

Town/City

Region

% fall in new listings in June vs. May

Dundee

Scotland

-48.1%

Barnsley

South Yorkshire

-39.3%

Sunderland

North East

-25.2%

Torquay

South West

-25.1%

Hereford

West Midlands

-24.5%

Slough

South East

-23.8%

Hemel Hempstead

East

-22.1%

Bolton

North West

-21.5%

Ipswich

East

-21.1%

Rotherham

South Yorkshire

-20.6%

 



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