by Theo Hildebrand on 15th July 2019
Almost 350,000 properties were listed in the first six months of 2019, according to Housesimple’s Property Supply Index, which tracks the number of new properties listed each month across more than 100 major UK towns and cities.
New listings increased in 4 of the first six months of the year, a clear sign that UK homeowners were unwilling to let Brexit uncertainty derail their plans.
Homeowners wasted little time in the New Year before putting their properties on the market. January saw a steep increase, with a 64% increase in listings on December 2018 figures, up from 31,825 to 52,207.
In February, homeowners kept the property market moving and defied growing Brexit woes rocking the nation with new property listings up by 11%. During this month, towns in Yorkshire saw steep increases, with property supply increasing in Huddersfield by 57%, while in York new listings increased by 51%.
In March, the deadline for Britain crashing out of Europe approached and the nation’s TV and newspapers were consumed by the unfolding political panic. Unsurprisingly many homeowners decided to wait and see what would happen, with overall listings falling 1.3%.
As politicians in London and Brussels debated and dithered UK homeowners slowly got back into the swing of things, with a small 0.7% increase in April. And with Brexit settled, at least until Halloween, and the Great British Summer final upon us, UK homeowners flooded back to the market.
In May new property listings rose 9.2% to over 63,000 new listings in the month, the first time in 2019 new listings broke the 60,000 level.
More than three quarters (80%) of towns and cities across the country saw a rise in new properties coming onto the market in May. Warwick, Falmouth and Canterbury all saw new property listings rise by at least 60%, while in London new supply was up 7.9% - after a few lows earlier in the year.
And as the good weather continued and we donned our wellies for Glastonbury, UK homeowners continued to make the most of calmer market conditions listing 61,775 properties in June. This was a decrease of 1.9% against 2019’s peak to date in May, but still comfortably over 60,000 new properties, showing UK homeowners preferred to make hay while the sun shined.
Sam Mitchell, CEO of Housesimple believes the fact new listings still exceeded 60,000 in June demonstrates a good appetite for homeowners and an overall strong finish to the first half of the year.
On a regional level, the latest data shows how Yorkshire, the North West and the Midlands continue to perform strongly, as the North-South divide remained a key feature of the property market in 2019. Bootle (41%), St. Helens (33%), and Rugby (26%) saw the largest increase in listings between the first six months of 2019 and the first half of 2018.
During the biggest month of the year to date for listings, the number of new properties for sale in the North West region increased by 3.92% from May 2019 to June 2019. Bolton (96%) and Bootle (284%) dominated this growth in the North West, with the number of new listings in Salford (8%), Liverpool (6%) and Rochdale (6%) also increasing from May to June.
Looking ahead, much will again depend on the Brexit negotiations and its potential fallout. But in the meantime, UK homeowners are getting on with life and enjoying a strawberry or two.
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