New properties for sale in January up 64% on December

by Jonny Stevens on 4th February 2019

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.”

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