The latest research by online estate agents HouseSimple.com has revealed that across 100 major UK towns and cities 67,931 new properties were listed by estate agents last month (March 2017: 47,413).
Whereas in March 2017 – when Article 50 was invoked – the number of new properties listed dropped by 27.7% compared with February 2017, this year, the number of new properties listed for sale in March increased by 1.1% compared with February 2018.
Chichester, West Sussex, saw the largest increase in new property listings last month, up 47.1% on February.
In addition, Durham and Bootle, Merseyside, saw property supply increase by 32.9% and 29.4% respectively.
The top 10 UK towns and cities which saw the highest number of new sellers in March vs February
By contrast, Rochdale (down 26.3%), Sale (down 23.7%) and Bath (down 22.7%) saw new seller numbers drop by at least a fifth in March.
- 585 one-bed flats priced at over £1m
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- New property sellers up 40%
The 10 UK towns and cities which saw the least number of new sellers in March vs February
In London, new property listings were up slightly on the UK average, with supply up 4.4% in March compared with February.
Newham saw the most dramatic increase in listings in March, with new sellers up 45.1%
The top 10 London boroughs which saw the highest number of new sellers in March vs February
“Although the early spring market was disrupted by some pretty awful weather in March, now the snow has melted, the next couple of months are set to be a very busy period,” said Sam Mitchell, CEO at HouseSimple.com.
“Saying that, we still saw quite a few opportunistic sellers marketing last month hoping to steal a march on the competition and secure a sale while fewer properties were being listed.
“Seller activity has already picked up noticeably since Easter, and in the current buyer’s market, the successful seller will be the one who stands out from the crowd; whether that’s pricing their property realistically or offering a superior product to the market.”