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New listings down nationwide but North West strong: HouseSimple

The latest HouseSimple property supply index reveals that new property listings were down from October to November by 25.4 per cent across the UK and 33.8 per cent in London.

However, new property listings in November were up as a whole by 5 per cent when measured annually.

The report examines over 100 UK towns and cities, and shows that listings dropped from 68,598 in October to 54,703 in November.

Sales in the North West alternatively have seen a rise in new listings in November versus October.

The report states that the uncertainty surrounding Brexit has led to sellers holding off listing their properties. However, there has been a rise in new listings in the North West, where the five areas with the biggest rises in new stock are, with Bootle seeing the largest increase at 34.7 per cent.

HouseSimple chief executive officer Sam Mitchell says: “Despite all the political turmoil, the property market is actually holding up admirably, because of the buoyant micro markets in the north of England, particularly the North West and Yorkshire.

“Although the London market has seen buyer and seller activity cooling, those sellers who are willing to negotiate on price are securing a sale.

“Sellers need to be willing to lower their expectations. If you have to accept a lower offer on your house, there’s every chance you can pick up a property for a lower price, and recoup that money.”

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