Capital bucks home sales decline
10th July 2018

Londoners put more homes onto the market last month than in any time in the last three years – up 2.8% on May – while at the same time the national figure declined slightly by 3.8%.

However, the longer-term picture remained strong, according to the Property Supply Index by HouseSimple.com, showing that June was the second consecutive month to see new listings with estate agents surpassing 70,000 UK-wide.

Sam Mitchell, CEO of HouseSimple.com, said: “Although new property supply fell slightly in June, listings still exceeded 70,000 for the second consecutive month across the 100 towns and cities we analysed. Seller activity has picked up noticeably since mid-May, particularly in London, where prices have cooled. Buyers are viewing a lot more properties before they make an offer, and with more sellers listing in the past month, they have more choice.

“More than ever, the key for motivated sellers is to price correctly and competitively to attract buyers. It’s important to do your research, to check what properties are selling for on your street and in the nearby area. This is probably not the right market to price high, hoping to squeeze a little more money out of buyers.

"Although we are seeing real intent from buyers to purchase, even with Brexit looming, they are more willing to move onto the next property, or wait-and-see, if they believe the price is too high.”