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Property supply boost after summer lull

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04/10/2016
The number of new properties listed for sale rose by 10% in September
Property supply boost after summer lull

New properties listed for sale in September were up 10.4% on August across the UK, according to HouseSimple.com.

The online estate agent said that following a typically slow August, where homeowners traditionally put sales on hold as they go on holiday, property listings have bounced back, with 69% of UK towns and cities seeing a leap in listings.

Biggest riser

The East of the UK saw a strong September for property supply with four out of the top 10 towns and cities for listings based in the Home Counties. Basildon in Essex jumped 68.1%, the biggest riser in the country, while new properties in Hemel Hempstead rose 52.2%.

London saw a 16.5% boost in new properties listed in September.

Alex Gosling, CEO of HouseSimple.com, said: “The property market continues to defy predictions of a post-Brexit fall-out with a return to form after the summer lull. The figures don’t show an astronomical uplift in new listings after a typically slow August, but a more than 10% boost in new properties is evidence of a resilience in the housing market that many didn’t expect.

“With the recent interest rate cut putting a spring in the step of buyers – and a further cut on the cards – a degree of market equilibrium may be restored. What was a sellers’ market before the Referendum vote and buyers’ market in the initial months after it may now be somewhere in between. This is no bad thing.”

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