Property market sees New Year supply boost

By: LSL Land & New Homes

Property market sees New Year supply boost

Current reports suggest a 40% increase in new properties of all types being marketed in the UK in January, when compared with December’s levels.

Increased seller supply in early part of 2018Around 10% of UK towns and cities saw new property listings more than double and about 48% saw new listings increase by 50% in January. Only six saw a fall in supply from December’s level.

London saw a substantial 79% increase in supply with the Borough of Hillingdon seeing an increase of 118.7%. All of the London Borough’s saw increases with Hillingdon, Bromley, Havering, Waltham Forest, Barnet and Bexley all with rises of 100% or more.

Regionally, the South saw the greatest gains - with 5 of the top 10 biggest risers. Solihull (West Midlands) saw rises of 145%, followed by Southend on Sea up 141%, Salisbury was up 127.3%, Rugby was up 120.7% and High Wycombe was up by 117.5%.

Increase in sellers in the early part of 2018However, there is an historical trend of homeowners choosing to market their properties in the New Year. The difference this year being that that the seasonal spike was more pronounced than usual.

The reports do not differentiate between second-hand and new-build property types. None the less, any increase in sellers increases the number of potential new home buyers.

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