Home » Uncategorised »
New property listings surge in September
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
The latest research from by HouseSimple.com has revealed that September was a good month for new property listings.
According to data from the report, listings increased by 9.1% between August and September and by 27.1% in London.
Return to form
Following a summer lull, in which housing supply fell to critically short supply levels, in excess of 60% of British towns and cities saw a rise in property listings in the last month.
In particular, the Scottish market saw a rise in new property listings during September, with supply up by 171.1% in Dundee, 48.8% in Aberdeen, 28.3% in Edinburgh and 24.7% in Perth.[1]
Sunderland saw the most substantial rise in property listings in England, which rose by 46.7% in the region. Cambridge also saw a significant increase of 35.5%.[1]
Capital gains
London saw almost 25,000 new listings in September, with the largest increase seen in the borough of Kensington and Chelsea, with a rise of 122.2%. Camden recorded an increase in listings of 95.7%.[1]
Just two of the thirty-two London boroughs-Croydon and Lambeth- saw a dip of property supply during August and September.
New property listings surge in September
Alex Gosling, CEO of online estate agents HouseSimple.com stated, ‘The current housing shortage in the UK has been a major contributory factor in rising property prices. We are in the grip of a severe property shortage and if September hadn’t seen a spike in new property listings we really could have been looking at a full-blown supply crisis.’[1]
‘Fortunately it seems sellers have woken from their summer slumber and September figures are far more encouraging,’ Gosling continued. ‘Almost 60% of UK towns and cities have seen stock levels rise between August and September. But it’s too early to breath a huge sigh of relief that a property crisis has been averted. Stock reservoirs still remain dangerously low.’[1]
Gosling believes that, ‘September needs to provide the catalyst,’ and that, ‘we need to kick on from here and gather some momentum for the rest of the year. Concluding, he sad,’ with demand so high, it’s the perfect time to sell. The housing market still has a long road to travel to rebalance supply and demand, but these latest listings figures show that we are finally moving in the right direction.’[1]
[1] http://www.propertyreporter.co.uk/property/september-sees-91-rise-in-new-property-listings.html
