January has seen a 40 per cent increase in new sellers listing their properties with estate agents, figures from HouseSimple reveal.
The online estate agency looked at the number of new properties being listed for sale across firms in 100 major towns and cities and saw the number rise from 34,597 in December to 48,538 in January.
London saw new property listings jump by nearly 80 per cent from 13,430 in December – the lowest figure for the whole of 2017 – to 24,004 in January.
The study shows that 10 per cent of towns saw new property listings more than double in January, while 48 per cent saw new listings up by at least half.
Only six towns across the UK saw fewer new sellers marketing in January than listed their properties in December.
London, which has seen property prices falling over the past couple of months, saw a huge increase in new sellers in January, with every borough in the capital seeing more new property listings compared to December.
HouseSimple chief executive Sam Mitchell says: “After 2017 ended with a whimper, the property market has enjoyed a much-needed New Year bounce in new supply.
“This boost does need to be put into context though, as new listings are still at very low levels. The market desperately needs a few more healthy months to fill the supply reservoir.
“We expect 2018 to be another challenging year for the UK housing market as the country’s exit from the EU draws closer. House price growth is likely to be single digits this year at best.
Mitchell adds: “However, the property market has proven over the past 12 months that it is robust enough to handle the blustery economic headwinds coming its way.
“For anyone thinking of selling their property over the next few months, they can be reassured there are committed buyers out there. But this is a price sensitive market. Buyers are negotiating harder and are happy to wait for the right property at the right price.”