HouseSimple.com’s latest Property Supply Index shows that new listings in August fell for the third month in a row, with listings down 17.1 per cent in London and 6.9 per cent across the country.
In total, fewer than 62,000 properties made it on to the market in August, which is the lowest amount since January 2018.
Last month, Money Strategy reported that King’s Lynn saw the biggest increase in fresh stock, increasing by 42.8 per cent, but this month the town witnessed the biggest decrease, with a drop of 36.4 per cent recorded.
Rugby followed close behind, with a fall of 31.7 per cent, and then Sale, at 26.7 per cent.
Stoke-on-Trent topped the opposite table, with a rise in listings of 43.8 per cent, followed by Lichfield, at 40.0 per cent, and then Barnsley, at 35.0 per cent.
The data also shows that every London borough saw fewer new listings on a monthly basis, with Barnet (which dropped 30.4 per cent), Haringey (which fell 30.4 per cent) and Kensington & Chelsea (falling by 27.1 per cent) seeing the greatest dips.
HouseSimple.com chief executive Sam Mitchell says: “Although properties are selling, Brits understandably took advantage of the fantastic weather [over the summer], and it’s no surprise they prioritised spending time outside and taking a holiday over moving home.
“Saying that, we did see plenty of sales going through, and the hot summer provided keen sellers with an opportunity to steal a march on the competition and secure a sale while there were less properties on the market.”