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TODAY'S OTHER NEWS

Sellers are back with a vengeance, according to online agency

Sellers are back with a vengeance according to figures from online agency HouseSimple. 

It claims the Brexit date extension has given sellers more breathing space as shown in its latest monthly survey of the UK’s 100 largest towns and cities. 

Homeowners pushed ahead with selling their properties last month, with new listings across the UK up 9.2 per cent from 57,710 in April to 63,001 in May. 

New supply in London was also up 7.9 per cent last month, after a difficult few months of 2019.

Around 80 of the 100 locations analysed saw a rise in new properties coming onto the market in May compared to April. 

Warwick, Falmouth and Canterbury all saw new property listings rise by at least 60 per cent in May, while new sellers were up by a quarter in the London borough of Hammersmith and Fulham.

Slough, Rotherham, Weston-super-Mare, Guildford, Lincoln and Salisbury completed the top 10 supply-growth areas.

The five London boroughs with the biggest rise in the number of new sellers listing properties last month were Hammersmith and Fulham (up 25.1 per cent) followed by Brent, Kingston upon Thames, Hackney and Camden.

“Sellers looked to make the most of relatively calm market conditions and buyers continued to cash in on competitive mortgage rates. Parents will also be thinking about the next school year and this may spur on families looking to move and changes school” says HouseSimple chief executive Sam Mitchell. 

“Although Brexit uncertainty will return later in the year, the housing market experienced a late spring bounce in May as the Brexit extension removed short-term uncertainty. There is now a window of opportunity for buyers and sellers to make the most of more stable market conditions in the weeks to come.”

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