Number of property listings plunges 10% in July

The number of new properties listed for sale in July has plunged by 10.3 per cent compared to a year ago, according to analysis by Housesimple.

There were 59,710 new properties listed for sale last month, compared to 66,603 in July 2018, the estate agency found in its Property Supply Index.

Across the regions, the South West saw the biggest drop in new listings, which were down by 11.1 per cent year on year to 4,051.

The next worst hit was the South of England with an 11 per cent annual fall in new homes for sale to 1,269 in July.

In the North East there was a 10.2 per cent reduction to 2,467, while the South East was close behind with a 9.9 per cent decline to 1,269.

Listings were down 7.5 per cent in the North West, 6 per cent in Wales, 5.3 per cent in the East of England and 4.2 per cent in Scotland.

Only the West Midlands saw a significantly positive trend with 4.4 per cent more listings than last year at 3,249 in July.

In the East Midlands there was a slight increase, with new listings up by 0.94 per cent to 2,886.

The figures also show that the traditional summer slowdown is now underway with the number of new listings down 3.3 per cent compared to June 2019, although the decline is not as steep as last year when listings fell by 5.3 per cent, albeit from a significantly higher base.

Housesimple chief executive Sam Mitchell says: “The summer holidays are upon us and a drop in new property listings from their annual peak is not uncommon. 

“We would expect to see this trend continue into August, as people go away for their summer holidays or make the most of the British summertime. 

“However, those not jetting abroad should consider using this time as a chance to list their property and make the most of the reduced competition.”

He adds: “With a new prime minister in Number 10, all eyes are now firmly on what he has in store for the UK property market.

“The suggestion to move the burden of stamp duty from buyers to sellers has caused the biggest stir.

“It might help first-time buyers or those moving up the chain, but it runs the risk of bringing the property ladder to a grinding halt as those at the top end of the ladder will be deterred from ever downsizing to free up larger homes.”


Houses, house, property, monopoly

House prices inflate 1.7% in June: Hometrack

House price inflation in UK cities has increased 1.7 per cent in June, according to data collected by Hometrack. Prices in London have remained flat in the year to June at 0 per cent. The data shows that seven cities included in the analysis recorded growth under 1 per cent. The largest decline was in […]

Housing demand nudges downwards: NAEA Propertymark

The number of prospective buyers registered per estate agent branch fell in June, from 307 to 305 on a monthly basis, according to NAEA Propertymark. Year-on-year housing demand also fell, declining 1 per cent, with there being an average of 308 prospective buyers registered per estate agent branch in June 2018. Looking at the supply […]


News and expert analysis straight to your inbox

Sign up

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now