Ranked: London boroughs with the biggest increase in new property listings
New property listings were up 7.4 per cent in May, with London seeing a 5.9 per cent increase in the number of new properties on the market.
May therefore saw the the highest number of new sellers list their properties in any single month since before 2017, according to online estate agents HouseSimple.
The figures show that across 100 major UK towns and cities, 73,577 new properties were marketed by estate agents in May, compared to 68,500 in April, a 7.4 per cent increase.
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This is the first time new property listing have exceeded 70,000 since HouseSimple started recording the figures at the start of 2017.
New property listings last month were also 54.6 per cent higher than the corresponding month in 2017, the study showed.
In London, new property listings were down slightly on the UK average, with supply rising 5.9 per cent in May compared to April.
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Haringey and Kensington and Chelsea both saw new stock up more than 18 per cent in May.
The following table shows the five London boroughs which saw the highest number of new sellers in March vs February:
|
London Borough |
Increase in new listings in March vs. Feb |
|
Haringey |
18.7 per cent |
|
Kensington & Chelsea |
18.3 per cent |
|
Merton |
17.1 per cent |
|
Lambeth |
15.1 per cent |
|
Hackney |
14.8 per cent
|
Across the 100 UK towns and cities, more than three quarters saw new stock levels rise in May versus April, the data showed.
Two areas in the south east experienced the biggest uplift in new stock in May: Chichester saw new property listings double last month, up 98.3 per cent on April, with listings up 58.2 per cent in Oxford.
Sam Mitchell, CEO of HouseSimple said: “May saw a healthy boost in stock coming onto market, with eight out of ten areas experiencing an increase in new listings.
“Although market conditions were a little subdued in the early part of May, there was a noticeable pick-up in activity in the second half of the month.
“Good weather always brings out the buyers, and June is predicted it be a hot month. Hopefully this will encourage committed sellers to take this window of opportunity and continue the momentum built up in April.”