More than two thirds of towns and cities in the UK saw an increase in properties coming to market during September, HouseSimple has claimed.
The online agent looked at listing data from Home.co.uk and claims 69% of areas in the UK saw an increase in supply despite concerns about the Brexit vote.
Its property supply index showed the biggest boost in Basildon, Essex, with a jump of 68.1% between August and September. London saw property supply jump 16.5% while Falmouth saw the biggest drop at 27.5%.
Alex Gosling, chief executive 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.
“This certainly isn’t a ‘rabbit caught in the headlights’ moment for UK home owners. Many clearly believe that the market is strong enough to sell in despite the ongoing political uncertainty.
“Equally, 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.”
Home.co.uk supplied EYE with a graph showing the trend each month and suggests that the supply data is broadly flat on an annual basis.
Doug Shephard, director at Home.co.uk, said they are seeing a rapid rise of listings in London, up 55% in September compared with three years ago.
Blimey,
The prize for the best ‘can’t be fagged’ press release goes to this lad!
The 11th biggest disruptor / budget boy or whatever they rank at these days can’t be bothered to use or more likely doesn’t have his own data so recycles someone else’s and whacks it out there.
Should have read, bloke with not much to do spends a morning on home.co.uk and draws worthless conclusion.
Jonnie
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So just to clarify, do these figures show new stock coming to market or recycled property as a result of the online only agents portal juggling?!
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” ………….. the supply data is broadly flat on an annual basis”. Certainly is and 2016 down on any previous 10 years. Someone was looking for an excuse to get notice, me thinks with this story. Now from the data guess which year was the year for repossessions?
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