Property listings increased in the days after March Brexit delay

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Thousands of home owners listed their properties in the days after Brexit was delayed again, according to the latest property supply index, with listings up 0.8% in April month on month.

Almost half, some 49% of major UK towns and cities analysed by online estate agent Housesimple saw a rise in new properties coming onto the market in April compared to March.

In London, although the overall picture revealed new listings were down 1.4% in April compared to March, four in 10 boroughs actually saw supply levels rise, the data also shows.

The biggest month on month rise was 69.4% in Stevenage, followed by a rise of 43.8% in Salford, while Chichester saw a rise of 33.8%. Listings increased by 33.3% in King’s Lynn, by 22.55 in Ipswich, by 20.1% in Gloucester, by 19.8% in Carlisle and by 17.6% in Warrington.

In London the biggest rise was in the borough of Kensington and Chelsea with listings up by 17.3%, followed by Islington up 12.4%, Sutton up by 11.1%, Hammersmith and Fulham up by 10% and Haringey up by 8.6%.

‘Home owners wasted little time in marketing their properties once the new Brexit date was confirmed. There was inevitably a slight lull in market activity in early April, but activity has picked up noticeably since 12 April, and although we’ve seen a more subdued spring bounce than in previous years, under the circumstances, seller numbers are at healthy levels, particularly in the North,’ said Sam Mitchell, Housesimple chief executive officer.

‘Looking ahead, uncertainty will persist until there is more clarity around our future relationship with the European Union, and naturally this will play on sellers and buyers’ minds,’ he pointed out.

‘But it’s clear there are plenty of home owners and home buyers who aren’t phased by Brexit and just want to get on with their lives. And this latest six month delay provides a wider window of opportunity for home owners to market while interest rates remain competitive and attractive to buyers,’ he added.

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Written by: Houseladder