Homes listed for sale slumped by a third in December
December saw the fewest number of people put their homes on the market than in any month in 2017, according to HouseSimple.com.
The online estate agent said there were less than 35,000 new properties listed (34,776) in December across the UK, as new stock levels fell by more than a third (33.5%) compared to November.
Just five places in the UK – including Torquay, Newport and Worthing – saw a rise in home sellers last month.
However, 10 locations saw at least a 50% slump in new property listings in December, with Newquay (63.8% drop), St Helens (63.8% drop) and West Bromwich (61.1%) registering the biggest drop offs in new property supply.
In the Capital, fewer than 14,000 people (13,430) put their properties on the market in December, by far the lowest number of new sellers in any month last year, and 39.1% down on November.
Alex Gosling, founder of HouseSimple.com, said: “The property market needs a sizeable bounce in January after 2017 ended with a whimper. It was a tough year with Article 50 and the General Election to contend with and there were already signs in November that sellers had decided to hold fire until the New Year. December confirmed that, with new listings tumbling last month.
“Historically, we do tend to see an uplift in activity in January, and with the stamp duty cut incentivising first-time buyers to purchase, this will hopefully act as a stimulus to sellers who have been reluctant to market.
“There is no point in delaying putting your property on the market if you need or want to move. There are still plenty of buyers out there, and if you’re committed you will sell.”