42% of towns and cities see housing supply increase

Michael Lloyd

April 2, 2019

More than four in 10 (42%) towns and cities saw a rise in housing supply in March despite Brexit uncertainty, online estate agent Housesimple has found. 

Meanwhile new property listings across the UK a whole fell slightly last month, down 1.3% from 57,992 in February, to 57,225 in March. In London, although new supply was down 2% in March compared to February, four in 10 boroughs saw new supply levels rise last month.

Sam Mitchell, chief executive of Housesimple, said: “The level of seller and buyer activity has been encouragingly resilient considering the ferocity of Brexit uncertainty in March.

“Seller activity is slightly down on February when you look at the overall picture, but many areas have actually seen more homeowners marketing in March.

“It’s reassuring to see defiant sellers driving the market forward, particularly in many northern areas of the country, such as Yorkshire and the North West, and north of the border in Scotland.

“All eyes remain on Westminster, but on the ground, there are plenty of sellers who see this as an opportunity to market their homes while there is less competition, and plenty of buyers motivated to purchase and lock in the best mortgage rates while the lenders are offering good terms.”

Scotland proved a buoyant market for new supply in March, with new listings up more than 25% in three major towns North of the border, including Inverness where supply was up 56.9% last month versus February.

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