Property listings down further

September 15, 2015

According to Housesimple.com the online estate agents, property listings in July were down across the UK by 13.2%, August saw the situation worsen with a further fall of 6.6% in new listings.

The capital saw some of the worse figures with listings dropping by 24.8% from June to August research by Houseimple showed, in fact no borough in London saw a rise in new property listings.  Kensington and Chelsea saw listings down 43.6% since the start of June, while Haringey saw new stock levels have fallen 36% since the start of the summer.

In August the Midlands and South of England saw 12 of the 15 cities experience the biggest drop in new property listings, Taunton saw property listings fall by almost a third (31.1%) in August, and that’s after new listings rose slightly (2.4%) in July. Lichfield saw a 29.3% fall in the supply of new stock in August compared to July, following a 12.1% drop in July.

In his comments, Alex Gosling, CEO of online estate agents HouseSimple reportedly said: “Across the country there are thousands of frustrated buyers, with finance in place, ready to purchase, but the property supply reservoir has dried up.

“They must be scratching their heads as to why sellers aren’t marketing, as there’s no clear or single reason why sellers are sitting on their hands. The General Election was expected to be the catalyst for sellers returning to the market.

“We would expect to see activity drop off over the summer holidays, so September will give us a better gauge as to how imbalanced supply and demand are right now. The hope is that after a summer when supply fell off a cliff, sellers will rediscover their appetite over the coming months.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More →
Finance

Autumn Budget Misses Mark on Housing Reform: UK Rental Market Squeezed by Shortages and Rising Rents

The UK rental market faces mounting pressures, with a recent Rics survey revealing a critical shortage of properties and surging rent prices. Landlord instructions, a key indicator of properties available to rent, fell to a net balance of -29%, marking this the lowest level since 2021. Strong tenant demand is driving rents higher, with 33%…
Read More →
Estate Agent Talk

Save a house deposit faster than ever in THESE areas!

Save a house deposit faster than ever in THESE areas! Aberdeen City in Scotland is named the best place to live if you want to save for a house deposit fast, saving in as little as a year and a half Inverclyde is second, whilst Burnley is third Average salaries and house prices in each…
Read More →
Estate Agent Talk

Finding Your Dream Home: Expert Advice from Camberley’s Top Estate Agents

Finding the right estate agent is crucial when navigating the competitive housing market in Camberley. With local expertise and in-depth market knowledge, these professionals can guide you toward your ideal property, saving you time and effort. Their understanding of the area’s nuances, from property trends to community relationships, positions them as indispensable allies in your…
Read More →
Breaking News

Zoopla reveals most affordable towns in Britain

With the average home valued at nearly four times average household incomes, Zoopla reveals the most affordable towns in Britain   An average property in Britain is valued at 3.8 times the average annual household income (assuming 2 full-time workers) Cumnock in Scotland, is Britain’s most affordable town to buy in 2024 with average property…
Read More →
Software & Tech

The Evolving Nature of Real Estate and Strategies for Agency Success

Real estate agents are used to working with fluid market dynamics. Adapting their sales strategies and responding to new industry demands is almost second nature to most agencies today. However, while making the necessary adjustments when following housing market trends is important, it’s also important for agencies to consider new business innovations that become available…
Read More →