Latest Brexit delay attracts sellers back to the market

Thousands of homeowners listed their properties for sale in the days following the latest Brexit delay on April 12, new research has revealed.

Housesimple's Property Supply Index, which analyses properties listed each month by agents across 100 towns and cities, reveals a boost in the number of new listings in the latter part of April.

According to the data, which is taken from Home.co.uk data, there were 57,710 new listings in April, up by 0.8% from 57,225 in March.

Some 49% of major UK towns and cities saw a rise in new properties coming to market in April, compared to the previous month.

In the capital, new listings were down by 1.4% last month when compared to March. However, four of 10 London boroughs saw supply levels rise in April.

Last month's top performing location was Stevenage, where there was an almost 70% rise in the number of new listings between March and April.

Other top performers included Salford (44%), Chichester (34%) and King's Lynn (33%).

The best performing London borough for new listings last month was Kensington and Chelsea, recording a 17% rise compared to March. Meanwhile, Islington, Sutton and Hammersmith and Fulham all recorded monthly listings growth of over 10%.

"Homeowners wasted little time in marketing their properties once the new Brexit date was confirmed," explains Sam Mitchell, Housesimple chief executive.

"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." 

"Looking ahead, uncertainty will persist until there is more clarity around our future relationship with the EU, and naturally this will play on sellers and buyers’ minds. But it’s clear there are plenty of homeowners and home buyers who aren’t phased by Brexit and just want to get on with their lives," he says.

"And this latest six-month delay provides a wider window of opportunity for homeowners to market while interest rates remain competitive and attractive to buyers."