New property listings slumped by a staggering 21.5% in November, the biggest drop in supply since the index was launched in May.

The Property Supply Index, compiled by online estate agent HouseSimple.com, also said not a single London borough saw a rise in property listings during the month.

Bath suffered the biggest fall with a 42.6% drop in new property listings, although Bootle in Merseyside bucked the trend with growth of 82.5%.

Alex Gosling, CEO of HouseSimple.com, said the figures highlighted the severity of the housing supply problem.

“Historically, as we get closer to Christmas, the property market does start to slow down, so a fall in property supply levels is not unexpected,” said Alex.

“However, the drop off is too dramatic to be simply attributed to seasonality factors alone.”

Alex said although the government had launched schemes to help people get onto the property ladder, it had yet to confront the issue of supply.

“They aren’t addressing the supply shortage, and if there are no homes to buy, these schemes are just window dressing,” said Alex.

“It is vital the housing market starts the New Year with vigour, because there are some potentially stormy seas ahead with the new buy-to-let stamp duty hikes looming large on the horizon.”