You are here: Home - First Time Buyers - News -

Property listings in Swindon soar

Written by:
The number of homeowners listing their properties for sale has soared in the last month, with Swindon home to the biggest rise.

Data from online estate agents House Simple showed that the number of people listing their homes for sale had grown 7.1% in the past month.

More than two-thirds of UK cities and towns had seen some rise, with Swindon in Wiltshire leading the way.

Property listings in the town grew by 47.3% in the past month, it found.

The next biggest increase came in Oxford where listings grew 17.5% while nine of the top 15 hotspots were in the north of England or Scotland.

By contrast Winchester, in South East England, saw property listings slump 17.9% since the previous month. Hull and Doncaster in the Yorkshire and the Humber region were also hit with a decrease, falling by 13.7% and 12.5% respectively.

Alex Gosling, CEO of House Simple, said: “A stampede of sellers coming to market was expected after the General Election result, but that stampede never materialised.

“In fact, for the first few weeks there appeared to be a fair amount of caution and reluctance amongst sellers to market. This may have been a case of waiting to see if property prices might start to rise rapidly with the confidence generated by a stable, majority government. Now it appears sellers have waited long enough, and we’re starting to see some movement.

“New stock levels are still quite low, but it will be reassuring for the market to see that two thirds of UK towns and cities have seen stock levels rise in the past month. The market still needs more stock to temper house price growth. One of the reasons why prices haven’t cooled, and are seemingly on a relentless upwards trajectory, has been a lack of new properties coming onto the market, especially in London. Hopefully, we’re going to start seeing a rebalancing of supply and demand.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your Mortgage Guides

Your Mortgage Award Winners 2019-2020

Download our guide to the best mortgage lenders in the UK

Read More >

Read previous post:
UK housing market in ‘supply crisis’

Dramatic action must be taken to rectify a ‘supply crisis’ in the UK housing market, a market analyst has warned.