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New property listings surge in May: Housesimple

New property listings across the UK rose 9.2 per cent in May, according to data collected by Housesimple.

The number of listings rose from 57,710 in April, to 63,001 last month.

New stock in London also rose, increasing by 7.9 per cent month-on-month.

The data shows that 80 per cent of the towns and cities in the analysis enjoyed a rise in new properties listed on the market.

Warwick saw the largest increase, at 68.2 per cent. This was followed by Falmouth at 64.1 per cent, and Canterbury at 63.8 per cent.

Within London, Hammersmith and Fulham recorded the greatest rise at 25.1 per cent. This was followed by Brent at 22 per cent, and Kingston upon Thames at 21.9 per cent.

Housesimple chief executive Sam Mitchell says: “All things considered, May was a strong month for new listings. Sellers looked to make the most of relatively calm market conditions and buyers continued to cash in on competitive mortgage rates.

“Parents will also be thinking about the next school year and this may spur on families looking to move and changes school.

“Although Brexit uncertainty will return later in the year, the housing market experienced a late spring bounce in May as the Brexit extension removed short-term uncertainty.

“There is now a window of opportunity for buyers and sellers to make the most of more stable market conditions in the weeks to come.”

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