Posts with tag: new property listings

New property listings up by 3.4% in July

Published On: August 3, 2016 at 1:52 pm

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The latest report from online estate agents HouseSimple.com has discovered that new property listings recovered during July.

Data from the investigation shows that new listings increased by 3.4% during the month across the UK. In London, there was a substantial 13.7% rise.

New to market

In order to compile the Index, HouseSimple analysed more than 500,000 listed properties, to track numbers of new properties marketed each month. This research took place in more than 100 major towns and cities across Britain and all London boroughs.

As Brexit uncertainty took hold in June, new supply of properties was down by 7.3% across the UK and by 12.8% in London. It seems however that in the last month, sellers returned to the market, despite ongoing speculation about the impact of leaving the EU.

Supply of new property was up in 62% of towns and cities involved in the report. The most significant rises were seen in Durham and Hartlepool in the North East.

The top-ten UK towns and cities in terms of rises in new property listings during July in comparison to June were found to be:

Town/City Region % rise in new listings in July vs. June
Durham North East 51.0%
Hartlepool North East 32.5%
Hemel Hempstead East 31.7%
Hereford West Midlands 28.6%
Weston-Super-Mare South West 25.6%
Chesterfield East Midlands 24.3%
Worthing South East 24.0%
Slough South East 23.3%
Doncaster South Yorkshire 23.0%
Bath South West 22.6%

[1]

New property listings up by 3.4% in July

New property listings up by 3.4% in July

Business returning

Alex Gosling, CEO of online estate agents HouseSimple.com noted, ‘it’s been business as usual after Brexit in terms of activity, with many sellers who were waiting on the result of the Referendum, now actively marketing their properties. The reality is that people need to sell for a whole host of reasons and delaying post-Brexit is simply not an option if people are relocating for work or family reasons.’[1]

‘On the ground, what was probably a sellers’ market before the vote is now going to be a more level playing field. That doesn’t mean that quality properties in desirable areas won’t still sell for close to or at asking price, but buyers are holding a few more cards now and motivated sellers may need to more flexible on price negotiations,’ he added.[1]

[1] http://www.propertyreporter.co.uk/property/july-property-supply-sees-rise-of-34.html

 

New listings increase during September

Published On: October 13, 2015 at 10:53 am

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Categories: Property News

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Would-be homeowners and buy-to-let investors have been encouraged with the news that more homes came onto the market in the UK during the last month.

Data from the report by HouseSimple indicates that across the UK, new property listings increased by 9.1% in the last month.

Increases

Between August and September, London saw a 27.1% increase, with supply in Kensington and Chelsea up by 122.2%. Camden also saw a significant rise of 95.7%.

Further north, Sunderland saw new listings increase by 46.7%, while in Cambridge, new homes on the market hit 35.5%. However, in Durham, supply dipped by 21.5%.

North of the border, Dundee recorded the highest number of new homes on the market in Scotland with a 171.1% hike in supply.[1]

After a quiet summer, where Britain faced a critically low level of housing stock, 60% of the 100 towns and cities covered saw an increase in new listings.

New listings increase during September

New listings increase during September

Scottish supply

The Scottish market saw a particular surge in new listings during September, with supply nearly tripling in Dundee. Aberdeen saw a 48.8% increase, while In Edinburgh, listings rose by 28.3%. Perth too saw a good increase, of 24.7%.[1]

London too saw a very good month, with the number of new listings almost hitting 25,000. Just two London boroughs, Croydon and Lambeth, saw a dip in supply.

Alex Gosling, Chief Executive of HouseSimple, noted that, ‘the current housing shortage in the UK has been a major contributory factor in rising property prices.’ He feels, ‘we are in the grip of a severe property shortage and if September hadn’t seen a spike in new property listings we really could have been looking at a full blown supply crisis.’[1]

‘Fortunately the September figures are far more encouraging. Almost 60% of UK towns and cities have seen stock levels rise between August and September. But it’s too early to breath a huge sigh of relief that a property crisis has been averted,’ Gosling continued.[1]

Concluding, he noted that, ‘stock reservoirs still remain dangerously low. September needs to provide the catalyst for the rest of the year. The housing market still has a long road to travel to rebalance supply and demand but these latest listings figures show that we are finally moving in the right direction.’[1]

[1] http://www.propertywire.com/news/europe/uk-new-homes-supply-2015101211079.html

August sees further drop in new listings

Published On: September 15, 2015 at 3:26 pm

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Categories: Landlord News

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The property crisis in the UK is showing no signs of abating, with supply falling further in August, according to a new report.

Research conducted by online estate agents HouseSimple.com indicates that new properties being listed in August were down by 6.6%. This was following a 13.2% decrease recorded in July.[1]

Regional falls

In London, the lack of supply is beginning to reach critical levels. The total number of Londoners putting their properties on the market has dipped sharply over the summer months, with new listings down by 24.8% since June.

When compiling its Property Supply Index, HouseSimple.com examines the number of new properties that are listed on Rightmove each month, in more than 100 towns and cities across Britain. The pay-as-yo-go agent also looks at the number fresh properties coming onto the market in all London boroughs. Their latest research indicates that less than a quarter of towns and cities involved in the investigation saw increases in listings during August.

The UK towns and cities that experienced the largest falls in new property listings in August, in comparison to July, were found to be:

Town/City Region % fall in new listings in August vs July
Taunton South West -31.1
Lichfield West Midlands -29.3
Loughborough East Midlands -28.5
Chelmsford East -24.1
Bedford East -22.4
Hemel Hempstead South East -18.7
Eastbourne South East -18.4
Salisbury South West -17.4
Halifax Yorkshire -16.8
Stockton-on-Tees North East -16.7
Derby East Midlands -16.4
Northampton East Midlands -15.8
Winchester South -15.6
Chichester South East -15.0
Sutton Coldfield West Midlands  

-14.7

[1]

Capital Pains

Areas in the Midlands and in the South of England were the most hit regions during the last month, with 12 of 15 cities in these places experiencing the largest drop in new property listings. Taunton saw property listings fall by 31.1% in August, with Lichfield seeing a drop of 29.3%.[1]

In London specifically, HouseSimple.com has indicated that there has been a substantial dip in the number of properties coming onto the market. Since the beginning of June, not one borough in the capital has seen a rise in new property listings, which are down by 24.8% from June to August.[1]

August sees further drop in new listings

August sees further drop in new listings

Kensington and Chelsea, home to the wealthiest in London, has seen the largest fall in listings. New properties coming onto the market were down by 43.6% in this region from the beginning of June. The borough of Haringey also faired poorly, with new stock levels falling by 36% since the start of the summer.[1]

New property listings in London boroughs during August in comparison to June were found to be:

London Borough % fall in new listings in August vs June
Kensington and Chelsea -43.6
Haringey -36.0
Bexley -35.7
Camden -35.5
Newham -32.0
Richmond upon Thames -31.9
Barnet -31.5
City of Westminster -28.7
Southwark -28.3
Waltham Forest -27.7

Frustration

‘Across the country there are thousands of frustrated buyers, with finance in place, ready to purchase, but the property supply reservoir has dried up,’ said Alex Gosling, CEO of online estate agents HouseSimple.com. ‘They must be scratching their heads as to why sellers aren’t marketing, as there’s no clear or single reason why sellers are sitting on their hands. The General Election was expected to be the catalyst for sellers returning to the market.’[1]

‘We would expect to see activity drop off over the summer holidays, so September will give us a better gauge as to how imbalanced supply and demand are right now. The hope is that after a summer when supply fell off a cliff, sellers will rediscover their appetite over the coming months,’ Gosling concluded.[1]

[1] http://www.propertyreporter.co.uk/property/august-sees-66-dr0p-in-new-property-listings.html

New property listings fall during July

Published On: August 11, 2015 at 4:41 pm

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Data from a recent report indicates that new property listings fell sharply during the last month.

According to the latest Property Supply Index by online estate agent HouseSimple, the number of UK homeowners putting their property on the market dropped by 13.2% in July.

Figures

HouseSimple looked at the total number of new properties listed on Rightmove in July in comparison to June in excess of 100 towns and cities across Britain. In addition, all 32 boroughs in London were examined. The findings show that just one in six towns and cities saw new property listings increase during July.

New stock levels have then fallen in the majority of areas during July. Glasgow and Edinburgh in particular experienced huge drops of 30.3% and 29.7% respectively. Milton Keynes (28.2%) and Sunderland (28.1%) faired only marginally better.[1]

Swindon, which recorded a substantial 40.5% rise in new listings during June, saw them drop by 25.2% in July. What’s more, data shows that a quarter of towns and cities that experienced the largest fall in new listings were in the South West of England.[1]

Drops

A possible reason for the drop in new property becoming available could be the typical seasonal drop-offs in market activity during the summer months. However, stock has been low long before the summer arrived and particularly concerning is the fact that the much-expected post General Election rush never really materialised.

Figures from HouseSimple’s survey show that in London, supply for property is particularly low. New stock levels in London boroughs alone were down 14.9% in July. In Bexley , listings fell by 31.4% last month, while popular area Kensington and Chelsea saw new listings slide by 24.5%.’[1]

‘Any hope that sellers were finally returning to the market seems to have been a vain one for the time being,’ said Alex Gosling, CEO of HouseSimple. ‘A boost to new stock levels in June suggested that we were finally starting to see some movement from sellers, but that momentum seems to have been short-lived. The General Election, which the market hoped would provide a catalyst for sellers, is long gone and property stock numbers remain well below normal levels.’[1]

New property listings fall during July

New property listings fall during July

Questions

Gosling went on to state that, ‘why are homeowners not moving is the $64,000 question. Is it because they can’t afford to as property prices have risen out of reach of them? Or maybe they’re not confident about market conditions, despite the strength of the economy and the highly competitive mortgage rates on offer at the moment?’ He believes that sellers, ‘need to be encouraged back to the market because there are buyers galore waiting when they do. It’s a very attractive market right now for motivated sellers.’[1]

‘The next few months are going to be important as the property market looks to gather momentum heading into the last quarter of the year. We fully expected activity to drop off in the summer months, but come the Autumn the market needs to replenished with  stock to realign the supply versus demand balance,’ Gosling concluded.[1]

[1] http://www.propertyreporter.co.uk/property/new-property-listings-dr0p-13-in-july.html

 

 

Vendors in the North are Most Active

Published On: July 21, 2015 at 9:58 am

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Categories: Landlord News

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Housing supply is still generally low in the UK, but in a large number of towns and cities, new property listings are picking up, particularly in the North of England and Scotland.

Vendors in the North are Most Active

Vendors in the North are Most Active

The amount of homeowners putting their homes on the market has grown by 7.1% in the last month and over two thirds (67%) of major towns and cities have recorded an increase in the number of new properties being marketed, found HouseSimple.

However, the largest rise was seen in Wiltshire, in the South West, up 47.3% in the past month. In the Yorkshire & the Humber region, Hull and Doncaster experienced a drop of 13.7% and 12.5% respectively.

Oxford has witnessed an increase of 17.5% in new property listings, whereas there has been an 8.7% fall in Cambridge over the same period.

CEO of HouseSimple, Alex Gosling, says: “A stampede of sellers coming to market was expected after the general election result, but that stampede never materialised.

“In fact, for the first few weeks there appeared to be a fair amount of caution and reluctance amongst sellers to market. This may have been a case of waiting to see if property prices might start to rise rapidly with the confidence generated by a stable, majority government.

“Now it appears sellers have waited long enough and we’re starting to see some movement.

“New stock levels are still quite low, but it will be reassuring for the market to see that two thirds of UK towns and cities have seen stock levels rise in the past month. The market still needs more stock to temper house price growth. One of the reasons why prices haven’t cooled, and are seemingly on a relentless upwards trajectory, has been a lack of new properties coming onto the market, especially in London.

“Hopefully, we’re going to start seeing a rebalancing of supply and demand.”1 

1 http://www.financialreporter.co.uk/finance-news/northern-sellers-fuel-71-rise-in-new-listings.html

Increase in Homeowners Hoping to Sell

Published On: July 20, 2015 at 3:13 pm

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The amount of homeowners hoping to sell their property has risen by 7.1% in the past month compared to the previous month.

The number of properties being marketed over the same period has risen in over two thirds (67%) of major towns and cities, research reveals.

Increase in Homeowners Hoping to Sell

Increase in Homeowners Hoping to Sell

Online estate agent HouseSimple has compiled a report, the Property Supply Index, which details the amount of new properties listed every week on property portal Rightmove in over 100 towns and cities.

The data reveals a distinct North-South divide, as owners in the North of England and Scotland were more active in June and July in marketing property.

Nine out of 15 areas experiencing an increase in new property listings are in the North or Scotland, including Liverpool at 30.4%, Lancaster at 24.3% and Edinburgh at 17.2%.

Towns and cities in the Midlands that feature in the list include Coventry at 21.1%, Hereford at 19% and Lincoln at 17.6%.

Swindon in Wiltshire saw the biggest rise in new property listings in the past month, of 47.3%. Oxford is the only city in the South to feature in the list of largest growth, with an increase of 17.5%.

New listings in Winchester, Hampshire have dropped significantly in the past month, by 17.9%. In Hull, they have declined by 13.7%.

The London housing market has also slowed in recent months.

However, the HouseSimple study reveals that the capital has witnessed an 8.1% increase in new property listings in the last month compared to the previous month. This rise has been felt in over three quarters (78.1%) of London boroughs.

The greatest growth has been in Bexley at 30.6% and the City of Westminster at 29.5%.

The biggest drops have been in Bromley at 11.2% and Kingston upon Thames at 6.6%.

Chief Executive of HouseSimple, Alex Gosling, comments: “A stampede of sellers coming to market was expected after the general election result, but that stampede never materialised.

“In fact, for the first few weeks there appeared to be a fair amount of caution and reluctance among sellers to market.

“Now it appears sellers have waited long enough and we’re starting to see some movement.”1

1 http://www.express.co.uk/finance/city/592301/Britain-puts-houses-market-sellers-stir-property-ladder