Property supply falls in 81% of UK towns
Four out of five UK towns and cities saw a drop in property supply in October, with the number of new listings down 6.9% on average across the UK, according to HouseSimple.com.
The online estate agent found that the biggest faller was Swansea, where property listings fell 52%, followed by Stirling which saw a drop of 37.7%. At the other end of the spectrum the biggest riser was Crawley, where supply jumped 30.9%.
Alex Gosling, CEO of HouseSimple.com, said: “At this time of year we’d expect to see committed sellers rushing to put their properties on the market before the traditionally quieter period kicks in as we get closer to Christmas. The weather has also been unseasonably mild recently, and that should be encouraging sellers to list their houses as it presents an opportunity to show off their property in the best possible light.
“Instead, we have seen new listings stall in October, with supply down in four out of five UK towns and cities. This might simply be a correction after September saw a surge in new properties coming onto the market, and the overall drop in property supply is still less than 2% in October compared to September.”