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60% of UK’s Towns and Cities See Increase in Housing Supply in April

Housing supply throughout the month of April increased for more than two thirds of UK’s towns and cities, as reported by the latest supply index.

UK Residential Property Market Supply Shortage

Housing supply throughout the month of April increased for more than two thirds of UK’s towns and cities, as reported by the latest supply index.

By measuring the number of new property listings on their online platform, online estate agents HouseSimple.com found that the property supply across more than 100 of UK’s towns and cities increased by 0.5% in the month of April, although large regional differences were found.

 

The largest fall was recorded in the city of Inverness, in Scotland, where the number of new property listings decreased by 29.1% from the previous month. Conversely, the highest increase was seen in Winchester with a 35.6% rise in new property listings in April from March.

 

In April, more than half of London boroughs saw a decrease in property listings and the capital saw an overall fall of 0.8%. The London borough that saw the largest rise from March was Bexley with 58.9%, followed by Ealing with 43.4% and Tower Hamlets with a 37.2% increase.

 

The figures also indicate that more properties are been marketed in the North of England than in the South – 9 out of 15 of the cities that saw a rise in new property listings were located in the North or in Scotland. This includes Liverpool with a 30.4% rise, Lancaster with 24.5% and Edinburgh with 17.2% rise.

 

In light of their findings, CEO of HouseSimple.com Alex Gosling commented: “Although 60 per cent of UK’s towns and cities saw an increase in property supply in April, these rises weren’t nearly material enough to make a dent in the stock shortage. There’s simply not enough new stock coming onto the market to meet demand”.

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