New properties for sale in January up 64% on December

Homeowners wasted little time in the New Year before putting their properties on the market, as January saw a post-festive boost in seller numbers, according to the latest Property Supply Index compiled by Housesimple.

New property listings in January 2019 were up by almost two-thirds (64%) on December 2018, from 31,825 to 52,207, as sellers who had decided in early December to hold off marketing until after the festive period, were in no mood to let the Brexit vote on 15 January delay them any longer. New stock in London also increased significantly last month, up by 70.6% to 21,677 versus 12,709 in December.

The Property Supply Index, which analyses the number of new properties listed each month by estate agents across more than 100 major UK towns and cities, saw an increase in properties coming onto the market in January. New listings trebled in Hastings (212.1%) and were up 191.7% in Southend and 178.3% in Torquay.

The following table shows the ten UK towns and cities which saw the biggest increase in new sellers listing their properties in January 2019 vs December 2018:

Town/City	Region	% increase in new listings in January 2019 vs December 2018
Hastings	South East	212.1
Southend-On-Sea	East	191.7
Torquay	South West	178.3
Guildford	South East	158.8
Ipswich	East	138.6
Shrewsbury	West Midlands	121.1
Southport	North West	117.7
Chesterfield	East Midlands	117.5
Halifax	West Yorkshire	116.7
Colchester	East	113.7

London

New properties listed in Bromley in January were up 270.6% on December. Three other boroughs, Havering, Redbridge and Barnet, saw new listings double last month.

The following table shows the five London boroughs which saw the biggest rise in the number of new sellers listing their properties in January 2019 vs December 2018:

London Borough	% increase in new listings in January 2019 vs December 2018
Bromley	270.6
Havering	107.8
Redbridge	104.1
Barnet	100.0
Hillingdon	96.1

Sam Mitchell, CEO of HouseSimple.com, comments: “We would normally expect to see activity pick up in the New Year, but no-one was quite sure how sellers and buyers would react to the amplified Brexit uncertainty in January. In the end, it proved to be a busy month for sellers in particular, and even with the distraction of the Commons vote mid-month, homeowners were keen to make up for lost time.

“We are seeing a ‘life goes on’ attitude amongst homeowners, and many view the current political climate as an opportunity to market and secure a sale while there is less competition around.

“It’ll be interesting to see how the next few months pans out. If the odds improve on a Brexit deal, we could see a cavalry charge of sellers putting their homes on the market. What we won’t necessarily see is an immediate surge in buyers, and savvy sellers may see this period of Brexit limbo as the perfect opportunity to market and have the pick of the buyers out there.”