The total number of new property listings across the UK fell 13.1 per cent in August compared to July, according to the latest Property Supply Index compiled by online estate agents HouseSimple.com. New property supply in London was down 22.3 per cent last month.
August is historically a quiet month for sellers marketing their properties, as families head off on their summer holidays. But even taking this into account, the total number of new properties listed for sale last month was down 5.9 per cent on the corresponding month in 2016.
HouseSimple.com analysed new properties marketed in more than 100 major UK towns and cities to compile the latest Property Supply Index. Two thirds of towns and cities saw a drop in new properties being marketed in August vs July, with Coventry (33.0 per cent) and Winchester (31.1 per cent) experiencing the largest falls in new listings last month.
The following table shows the ten UK towns and cities that saw the biggest drops in new property listings in August 2017 vs July 2017:
|Town/City||Region||% fall in new listings in August vs. July|
The following table shows the ten UK towns and cities that saw the biggest rises in new property listings in August 2017 vs July 2017:
|Town/City||Region||% rise in new listings in July vs. June|
|Weston Super-Mare||South West||16.6%|
New property supply in the capital fell 22.3 per cent in August with 30 out of 32 London boroughs seeing a drop off in new listings last month. Richmond saw the biggest fall, (down 42.2 per cent) of any borough for the second consecutive month. Only Bexley (17.4 per cent) and Sutton (8.4 per cent) saw an increase in property supply in August vs. July.