View more on these topics

Property listings fall for the first time in 2018: HouseSimple

New listings were down 6 percent across the UK, and 12.7 per cent in London in July, according to data from HouseSimple.

This equates to just under 67,000 listings versus 70,000 in June and marks the first dip of the year. However, further examination reveals that in 55.7 per cent of the towns and cities studies, stock levels were actually up on a monthly basis.

Poole, Salford, and King’s Lynn saw the biggest increase in fresh stock, at 42.8 per cent, 38.5 per cent, and 33.8 per cent, respectively.

Blackburn suffered a drop of 48.6 per cent, Winchester listings fell 36.4 per cent, and Lichfield came in with the third-lowest, at minus 32.4 per cent.

HouseSimple puts the overall listings fall down to the blisteringly hot weather that has engulfed much of the country in the last month.

Chief executive Sam Mitchell says: “The summer months tend to see a drop off in buyer and seller activity as families head overseas on their holidays. This year, more families chose to stay at home and we might have expected to see a mini boost in supply as a result. However, no-one predicted we’d have such a glorious July, and it’s hardly surprising people headed to the beach rather than the estate agent.

“There’s no evidence to suggest that buyers and sellers are withdrawing, and even yesterday’s rate rise is unlikely to have a dramatic impact on the market. We may well see subdued seller activity in August as more hot weather is predicted, and then the hope is for a strong September as we enter the crucial Autumn period up to Christmas.”


Peter Hill to leave Leeds Building Society

Leeds Building Society has announced in its half yearly results that chief executive Peter Hill (pictured) will retire in February 2019. He will hand over the role to current chief commercial officer Richard Fearon, who has become deputy chief executive with immediate effect. Leeds Building Society chairman Robin Ashton says: “Peter has provided outstanding vision […]


Rise and fall: historical interest rates in the UK, 1979-2019

A timeline of key events and data relating to historical interest rates in the UK, 1979-2017. Historical antecedents  Interest rates were very stable in the UK during the 18th century, staying put at between 4 and 5 per cent. Moving into the 19th century, there was more volatility, with interest rates shifting between 4 and […]


News and expert analysis straight to your inbox

Sign up