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Property Listings Rise by Nearly 100% across the UK in January

The proportion of new properties entering the market across the UK in January almost doubled from the previous month, surging by 93.3%, according to new research.

The proportion of new properties entering the market across the UK in January almost doubled from the previous month, surging by 93.3%, according to new research.

A report, compiled by online estate agency HouseSimple.com, which encompasses data from more half a million listed properties, found that supply rose in more than 100 major towns and cities across the UK and across all London boroughs.


More than a quarter of the towns and cities included in the report, or 27.1%, experienced an increase of supply equal to 100% or more in January, with Lichfield in the West Midlands seeing the largest increase in new listings – up by 268.4%.


Other top performing locations were Hastings, in the South East, where the proportion of new properties coming onto the market rose month-on-month by 179.3% in January, and Edinburgh in Scotland, where new listings surged by 172.6%.


In the capital, supply rose by 121.7% in the month, with boroughs Redbridge and Bromley seeing the most significant increases, with new properties listings up 216.5% and 184.5% respectively.


Commenting on their latest report, Alex Gosling, CEO of HouseSimple.com said:


“We expected to see property supply rise in January, and it will be a relief that numbers have jumped because there were concerns that sellers, jaded by Brexit talk, might be slow to market in January. Although the numbers of new properties listed wasn’t through the roof, they were higher than November and only a little lower than October, so supply returned to pre- Christmas levels.


“We are now coming into peak-time for property sales, the pre-spring and spring market. The black cloud of Article 50 looms overhead and no-one really knows if that will see sellers delay marketing their properties. But if the market’s response to the Brexit vote is anything to go by, the urge or need to move will mean it’s very much business as usual.”


Earlier this week, a new report by LSL Property Services and Acadata revealed that property prices increased to a new historical peak in January.

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