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New property listings rise in February: Housesimple

New property listings rise in February: Housesimple 1024 576 NGI Residential Mortgages

The number of new properties listed for sale rose in February, according to Housesimple.

Data collected by the firm shows that new property listings rose by 11 per cent nationwide between January and February – from 52,207 to 57,992.

In addition, the amount of new stock in London rose by 8.1 per cent in the same time frame, from 21,677 to 23,440.

The figures show that across the country, Huddersfield saw the largest increase in property listings between January and February, reporting a 56.8 per cent rise. This was followed by High Wycombe at 54.5 per cent and York at 50.6 per cent.

Housesimple points to the regional differences in the property market, with two of the top three locations in the analysis being in Yorkshire.

Within London, Sutton posted the largest increase month-on-month with a 26.8 per cent rise, closely followed by Havering, at 21.3 per cent.

Housesimple chief executive Sam Mitchell comments: “Seller activity picked up in February as we head towards the traditionally busy spring period.

“Brexit uncertainty is feeding through to some areas of the country, particularly in and around London, where transaction levels have dropped off compared to the same time last year, but that is not the picture everywhere.

“We are seeing a great deal of defiance from sellers, most noticeably in areas where regional economies are strong, and affordability is not such an issue.”

* Content Source – Mortgage Strategy.