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Number of new property listings falls in June: Housesimple

The number of new property listings in the UK fell in June by 1.9 per cent, according to data collected by Housesimple.

In June, 61,775 new properties came onto the market, down from the 63,001 recorded in May.

Looking at this decline on a regional basis, the number of new properties coming on to the market in the South East of England fell by 11.1 per cent month-on-month. This was followed by the South of England, which dropped by 8.7 per cent.

In contrast, the North West saw the largest rise, with the number of new properties being listed on the marketing increasing by 3.9 per cent, on a monthly basis.

New supply in London also rose, increasing by 2 per cent between May and June this year. The number of listings increased from 24,607 to 25,106.

In London, Newham saw the greatest growth in the number of new properties listed on the market at 17.1 per cent. Lambeth followed at 16.4 per cent.

Year-on-year, new supply declined by 12.7 per cent in June, with 70,775 new properties listed on the market in June last year.

Housesimple chief executive Sam Mitchell says: “Although new property supply fell slightly in June, new listings still exceeded 60,000 for the second month in a row, as new sellers took advantage of the better weather and reduced Brexit uncertainty to market their properties.

“The North-South divide has long been a feature of the UK property market, reflected in both property supply and prices to show the consistent growth of northern regions.

“Albeit marginal, the fact that house prices continue to climb overall demonstrates the resilience of the UK property market and reflects the more favourable economic factors including low unemployment and low interest rates at present.

“We would expect to see momentum continue in July before slowing during August, as people go away for their summer holidays.”

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