‘Staggering’ decrease in November property listings

‘Staggering’ decrease in November property listings


Todays other news
There are some locations offering incentives to British investor buyers...
The market is strong ahead of the April stamp duty...
The PBSA analysis has been undertaken by Knight Frank...
The analysis has been done by Bond Wolfe...


New property listings fell by 21.5% across the UK in November, according to the latest Property Supply Index from online estate agent HouseSimple. 

The findings, taken from Rightmove, revealed that Bath experienced the largest drop in property supply in November, with new property listings down by 42.6%, which has steadily declined since June. 

The West Midland cities of Worcester and Solihull saw new listings drop 41% and 39% in November. 

Only Chichester and Salford experienced an increase in property listings in November compared to October, with rises of 14% and 11% respectively. 

London has witnessed a dramatic drop in property listings across November, dropping by 21% in the last month alone, according to Rightmove. 

The boroughs of Richmond upon Thames and Bromley and Hillingdon have demonstrated the largest decrease of 30% and 31% respectively. Property listings failed to increase in any London borough, according to the findings. 

Alex Gosling, CEO of HouseSimple.com comments: “Historically, as we get closer to Christmas, the property market does start to slow down, so a fall in property supply levels is not unexpected.  However, the drop off is too dramatic to be simply attributed to seasonality factors alone.”

“The government has implemented several schemes to help people get onto the property market, the latest of which being the Help to Buy ISA. However, they aren’t addressing the supply shortage, and if there are no homes to buy, these schemes are just window buying,” he added. 

HouseSimple’s findings have since been questioned by a number of housing market analysts

 

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Property Investor Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
The 12 month figure is the lowest seen in Scotland...
This is another element of the government ambition to build...
Zoopla expects UK house prices to increase by 2.5 per...
Spain’s draconian new tax is already spooking British investors...
The Budget has forced a revision of forecasts for the...
Prices and sales volumes will grow in 2025 despite the...
Recommended for you
Latest Features
There are some locations offering incentives to British investor buyers...
The market is strong ahead of the April stamp duty...
The PBSA analysis has been undertaken by Knight Frank...
Sponsored Content
As the property industry shifts towards sustainable practices, Inspired Property...
Are you concerned about rising interest rates and their potential...
In the ever-evolving landscape of property investment, staying ahead of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here