UK property supply falls by nearly half in December

UK property supply falls by nearly half in December
How the job market and economy perform will be critical for the property market in the months ahead

The latest data on property supply from online estate agents, HouseSimple.com, has revealed that the seasonal slowdown in property supply was sharper than usual in December, with new property listings across the UK down by as much as 46.9%.

The UK as a whole saw new property supply fall in almost every (98.4%) town and city in December, with new listings lower than at any point over the course of the past year. In Southport, for example, new property listings fell by more than 71%, while supply dropped by 70.1% in Rugby during the last month of the year. Only Salford and Telford saw property listings increase – up 8.5% and 4.1% respectively in December.

To compile the Index, HouseSimple looks at data on more than 500,000 listed properties to track the number of new properties marketed every month in more than 100 major towns and cities across the UK and all London boroughs.

The following table shows the UK towns and cities that experienced the biggest falls in new property listings in December versus November:

Town/City

Region

% fall in new listings in December vs. November

Southport

North West

-71.2%

Rugby

West Midlands

-70.1%

Edinburgh

Scotland

-66.6%

Bootle

North West

-65.8%

Inverness

Scotland

-64.9%

Crawley

South East

-59.3%

Newquay

South

-58.3%

Aberdeen

Scotland

-57.8%

Southend-On-Sea

East

-56.2%

Watford

East

-56.2%


The capital saw a larger than average drop in new properties being advertised, with the supply of new homes down by 53.6%. In London, the boroughs of Bromley and Enfield saw the sharpest drop-off in new listings, down 62.3% and 60.2% respectively.

The following table shows the London boroughs that experienced the biggest falls in new property listings in December 2016 versus November 2016:

London Borough

% fall in new listings in December vs. November

Bromley

-62.3

Enfield

-60.2%

Hackney

-59.5%

Bexley

-59.4%

Kensington and Chelsea

-59.3%

Haringey

-58.8%

Ealing

-58.2%

Waltham Forest

-57.6%

Kingston upon Thames

-57.4%

Harrow

-57.0%

Alex Gosling, CEO of online estate agents HouseSimple.com, comments: “The run-up to Christmas is chaotic, so most people wait until January to put their house on the market - as a result, a slowdown in new listings is pretty typical. But the December just gone was particularly slow and the fear is that this steep drop-off could hail the start of a more tentative market as inflation starts to rise and people feel less confident financially. How the job market and economy perform will be critical for the property market in the months ahead.”

Join our mailing list:

Leave a comment



Our Next Event

Buy-to-Let Roadshow April 2017

Buy-to-Let Roadshow April 2017

Crewe - 18/04/2017

Northampton - 19/04/2017

Essex - 20/04/2017

Brighton - 21/04/2017

Register now

Latest Comments

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

view article
ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

view article
NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

view article
Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

view article
Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

view article
Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

view article
Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

view article
James Powell
James Powell 27 Feb 2017

This is a very good news.

view article
DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

view article
Matt
Matt 20 Feb 2017

Is this fake news?

view article
Matthew Hollywood
Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

view article
CommercialTrust
CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

view article

Related stories

More articles from Property

Buy-to-Let Roadshow
April 2017

18th-21st April

4 days
7 specialists
4 locations
Free to attend

Click here to register now