"Although new listings were up in March, we’d have hoped to see more sellers, particularly in London, putting their homes on the market"
However new listings in London stagnated in March, falling by 0.3% on average last month compared to February. Lewisham and Hounslow experienced the steepest drop off in property supply, with new listings falling 41.4% and 40% respectively.
Excluding London, UK property supply rose by 10.3%, highlighting the ongoing UK divide.
Property listings rose in more than three quarters (76%) of towns and cities in March, with two Scottish towns, Stirling and Dundee, saw the biggest hikes in supply, up 87.8% and 70.9% respectively.
Of the 25% of towns and cities that saw supply fall in March, Telford experienced the biggest drop in the number of new listings, down 23.3%. While Barnsley and Warrington saw supply fall 13.9% and 12.1% respectively.
Alex Gosling, CEO of House Simple, commented: “Although new listings were up in March, we’d have hoped to see more sellers, particularly in London, putting their homes on the market as we enter the Spring’s peak property selling season.
“We need a supply boost in April, because the demand from buyers remains strong and thanks to the continued competitive mortgage deals still on offer, they are more than committed to purchasing.”
