Record number of sellers bring properties to market during May

[sancho panza]

http://www.propertyindustryeye.com/record-number-of-sellers-bring-properties-to-market-during-may/

 

May saw the highest number of sellers list their properties in any single month since the start of 2017, HouseSimple claims.

The online agent has regularly looked at the number of listings in the UK’s 100 largest towns and cities using Home.co.uk data since the start of 2017.

Its latest figures show 73,577 new properties were marketed by estate agents in May, compared with 68,500 in April, a 7.4% increase.

This is the first month that the numbers have surpassed 70,000 since the beginning of 2017 and is 54.6% higher than May of last year.

Across the 100 towns and cities included in HouseSimple’s Property Supply Index, 79% saw new stock levels rise between April and May.

In contrast, during April more areas saw new supply full over the month at 57.6%.

Two areas in the south-east experienced the biggest uplift in new stock in May, with new listings in Chichester up 98.3% on April, and 58.2% more homes for sale in Oxford.

London came in below the average, where supply rose just 5.9% between April and May.

Top ten areas where property supply increased in May

Town/City	Region	% increase in new listings in May vs. April
Chichester	South East	98.3%
Oxford	South East	58.2%
Mansfield	East Midlands	32.5%
Truro	South	26.2%
Loughborough	Midlands	23.0%
Salisbury	South West	20.7%
King’s Lynn	East	19.7%
Woking	South East	19.4%
Guildford	South East	16.8%
Worthing	South East	16.4%

Not everywhere saw increases, though, with Huntingdon in East England leading the drops in supply with a 46% monthly fall, followed by a 21.9% decline in Stirling, Scotland.

Sam Mitchell, chief executive of HouseSimple, said: “May saw a healthy boost in stock coming on to the market, with eight out of ten areas experiencing an increase in new listings.

“Although market conditions were a little subdued in the early part of May, there was a noticeable pick-up in activity in the second half of the month.

“Good weather always brings out the buyers, and June is predicted to be a hot month. Hopefully this will encourage committed sellers to take this window of opportunity and continue the momentum built up in April.

“Buyers are showing real intent to purchase at the right price, especially with no sign of an interest rate rise on the horizon and some attractive mortgage deals on offer.”

Town/City	Region	% increase in new listings in May vs. April
Huntingdon	East	-46.0%
Stirling	Scotland	-21.9%
Sale	North West	-10.6%
Stoke-on-Trent	West Midlands	-10.3%
Barnsley	South Yorkshire	-9.9%

[macca]

I keep a record of properties on zoopla for the last couple of years, There were 340 (3+ bedroom houses) last month in my area.. The previous high was 270 September last year.. Something is changing as this is the most for sale in the last 2 years by my records (SW outer London)

Either BTLeech are selling their slave boxes or Properties are sitting longer making stock increase.. OR both..