Sellers return to the housing market
The number of new properties listed across the country was up 13.3% in February compared to January, according to HouseSimple.
The online estate agents said that property supply increased in 83.7% of towns and cities as we enter a traditionally busy period for the property market.
In Warwick, the number of new listings rose 76.2%, while in Edinburgh and Carlisle property listings were up 59.7% and 54.6% respectively.
Not all areas saw a boost in supply last month. In Bootle, for example, the number of new property listings fell 12.6%, while Guildford and Salford saw supply drop 12.4% and 8.5% respectively.
Alex Gosling, CEO of HouseSimple.com, said: “The market needs a boost in supply and it’s encouraging to see that new listings are up in February, albeit that we would typically expect numbers to rise in the coming months as sellers list their properties in time for the Spring market.
“What’s more encouraging is that new stock levels are higher than October 2016 and only slightly short of September 2016, both traditionally strong months for the property market. Now we need to see buoyant listings figures in March and April because the buyers are definitely there, and thanks to the continued competitive mortgage deals still on offer, they are committed to purchasing.”