Homes for sale down again
7th November 2017

Last month’s boost in homes placed with estate agents proved short-lived, as figures reveal new supply levels fell again in October.

The latest Property Supply Index, compiled by online estate agents HouseSimple.com, shows the total number of new properties marketed by estate agents across the UK last month was down 4.3% on September following a 20% spike in September after a quiet summer.

The Index reveals that three quarters (75.2%) of UK towns and cities saw new property listings fall in October over September, with the biggest drops in Torquay, 37.4%, and Oxford, 37.0%.

Alex Gosling, CEO of online estate agent HouseSimple.com, said: “The housing market is in desperate need of a prolonged period of supply growth rather than isolated months where seller numbers rise, only to fall back the following month. We probably won’t see numbers jump again this year, but steady levels in November and December would at least give the market a strong base going into the New Year, particularly with some heavy Brexit headwinds heading our way. The Government can also play its part by delivering a positive Autumn Budget for the UK property market in a couple of weeks’ time. A shake-up of the stamp duty tax system would be a good start.”