New property listings decline in August

Jessica Nangle

September 4, 2019

The number of new property listings in the UK fell by 13.2% in August according to research by Housesimple.

In their latest Property Supply Index, Housesimple reveal that there were 51,809 new property listings recorded across 100 major UK towns and cities.

This figure fell from the 59,809 listings in July.

Numbers of new property listings in London saw a monthly decline of 19.9%, with a 8.7% fall in new homes to market across the country in August.

Scotland and the North East saw the lowest reduction in new property listings in August, at -2.1% and -2.4% respectively.

Sam Mitchell, chief executive at Housesimple, said: “Two things traditionally happen in the property market in August.

”First, homeowners stay away, choosing instead to recharge in the sun for a few weeks.

“Secondly, those that have already sold up tend to move, with 30th August being the busiest day of the year for actually moving home.

“As a result, it’s no great surprise that listings dip in August.

“However if you are a vendor who listed your property in August, you benefit from less competition from other vendors, continuing buyer demand and strong mortgage approvals.

“The more interesting question will be how much listings bounce back in September, we usually see a 15-20% increase in listings between August and September.”

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