Agents continue to suffer from supply shortage as new listings decline 12.7%

New property supply fell 12.7% annually last month, research claims.

Analysis of Home.co.uk listings data shows that 61,775 new properties came to the market in June, down from 70,775 in the same month of last year.

The figure is also down 1.9% on a monthly basis.

The research, by Housesimple, found that sellers in the north dominated new listings.

The highest number of new listings in June came from the northern town of Bootle, up 283.5% to 510 over the month, followed by a 95.5% increase in Bolton to 481.

Regionally, sellers and agents in the north-west saw the biggest increase, with 6,493 new listings, up 3.92% on May.

There was also a 2.03% boost in new listings in London at 25,107.

The south-west and south-east saw an 8.74% and 11.1% drop in new listings respectively.

The largest of these were in Canterbury and Truro, down 31% and 30.3% respectively.

Sam Mitchell, chief executive of Housesimple, said: “Although new property supply fell slightly in June, new listings still exceeded 60,000 for the second month in a row, as new sellers took advantage of the better weather and reduced Brexit uncertainty to market their properties.

“The north-south divide has long been a feature of the UK property market, reflected in both property supply and prices to show the consistent growth of northern regions.

“Albeit marginal, the fact that house prices continue to climb overall demonstrates the resilience of the UK property market and reflects the more favourable economic factors including low unemployment and low interest rates at present.

“We’d expect to see momentum continue in July before slowing during August, as people go away for their summer holidays. However, savvy sellers can still benefit from listing their property during high summer, as they face less competition for buyers.”

Ranking

Region

Number of new listings in May 2019

Number of new listings in June 2019

% increase in new listings in June 2019 vs May 2019

1

North West

 

6248

6493

3.92%

2

London

24607

25107

2.03%

3

North East

2490

2484

-0.24%

4

Wales

1349

1343

-0.44%

5

East of England

3683

3537

-3.96%

6

Scotland

2911

2757

-5.29%

7

East Midlands

2861

2694

-5.84%

8

South West

4446

4171

-6.19%

9

West Midlands

3471

3245

-6.51%

10

Yorkshire

3688

3445

-6.59%

11

South of England

1396

1274

-8.74%

12

South East

5522

4909

-11.10%

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