Property sellers

New property sellers up 40%



The number of new property sellers across the UK has increased by 40% in January, new figures have revealed.

Research released by online estate agent HouseSimple.com found that 10% of British towns saw new property listings more than double from the previous month.

The Property Supply Index from HouseSimple looks at the number of new properties listed by estate agents across 100 major UK towns and cities.

Almost half (48%) of UK towns and cities experienced a new property listings surge of at least 50% in January.

New property supply in London increased by 78.7% in January, with a fifth of London boroughs seeing the number of new sellers double in the last month.

Solihull, in the West Midlands, reported the largest increase in new property listings (148.9%), followed by Southend-On-Sea (141.5%) and Salisbury (127.3%).

Sam Mitchell, CEO of HouseSimple.com, said: “After 2017 ended with a whimper, the property market has enjoyed a much-needed new year bounce in new supply.

“This boost does need to be put into context though, as new listings are still at very low levels.”

Sam added that the market desperately needed a few more healthy months to fill the supply reservoir.

“We expect 2018 to be another challenging year for the UK housing market as the country’s exit from the EU draws closer.

“House price growth is likely to be single digits this year at best. However, the property market has proven over the past 12 months that it is robust enough to handle the blustery economic headwinds coming its way.”


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