Thousands push ahead with selling their homes in April

Thousands of homeowners listed their properties in the days after Brexit was delayed, according to the latest Property Supply Index compiled by Housesimple.

Defiant homeowners showed they hadn’t been spooked by the latest delay on 12 April, as they pushed ahead with selling their properties in the latter half of the month, with new property listings across the UK up 0.8% in April from 57,225 in March to 57,710.

Almost half (49%) of major UK towns and cities analysed saw a rise in new properties coming onto the market in April compared to March.

The Property Supply Index analyses the number of new properties listed each month by estate agents across more than 100 major UK towns and cities.

In London, although the overall picture revealed new listings were down 1.4% in April compared to March, four in 10 boroughs actually saw supply levels rise last month.

The following table shows the UK towns and cities which saw the biggest increase in new sellers listing their properties in April 2019 vs March 2019:

Town/City	Region	% increase in new listings in April 2019 vs March 2019
Stevenage	South East	69.4
Salford	North West	43.8
Chichester	South East	33.8
King's Lynn	East	33.3
Ipswich	East	22.5
Gloucester	South West	20.1
Carlisle	North West	19.8
Warrington	North West	17.6
Bath	South West	17.3
Leicester	East Midlands	17.0

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

London Borough	% rise in new listings in March 2019 vs February 2019
Kensington and Chelsea	17.3
Islington	12.4
Sutton	11.1
Hammersmith and Fulham	10.0
Haringey	8.6

 

Sam Mitchell, CEO of Housesimple, comments: “Homeowners wasted little time in marketing their properties once the new Brexit date was confirmed. There was inevitably a slight lull in market activity in early April, but activity has picked up noticeably since 12 April, and although we’ve seen a more subdued spring bounce than in previous years, under the circumstances, seller numbers are at healthy levels, particularly in the North.

“Looking ahead, uncertainty will persist until there is more clarity around our future relationship with the EU, and naturally this will play on sellers and buyers’ minds. But it’s clear there are plenty of homeowners and home buyers who aren’t phased by Brexit and just want to get on with their lives. And this latest six-month delay provides a wider window of opportunity for homeowners to market while interest rates remain competitive and attractive to buyers.”