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Supply of homes for sale fell in March

Christina Hoghton
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Christina Hoghton

Four in 10 towns saw an uplift in properties put on the market, but overall potential sellers remained cautious

New property listings across the UK fell slightly last month, down 1.3% (from 57,992 in February, to 57,225 in March), according to Housesimple.

The online estate agent said that more than four in 10 (42%) towns and cities saw a rise in housing supply in March.

In London, new supply was down 2% in March compared to February.

Buoyant in Scotland

Scotland proved a buoyant market for new supply in March, with new listings up more than 25% in three major towns north of the border, including Inverness where supply was up 56.9% last month versus February.

Sam Mitchell, CEO of Housesimple.com, said: “Seller activity is slightly down on February when you look at the overall picture, but many areas have actually seen more homeowners marketing in March. It’s reassuring to see defiant sellers driving the market forward, particularly in many northern areas of the country, such as Yorkshire and the North West, and north of the border in Scotland.

“All eyes remain on Westminster, but on the ground, there are plenty of sellers who see this as an opportunity to market their homes while there is less competition, and plenty of buyers motivated to purchase and lock in the best mortgage rates while the lenders are offering good terms.”