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Number of homes for sale bounces back in key towns and cities

Number of homes for sale bounces back in key towns and cities

A property supply index suggests there has been a bounce-back of homes on the market in July, following the EU referendum hiatus. 

HouseSimple says there has been a 3.4 per cent increase across the UK and a spectacular 13.7 per cent rise in London. 

Three London boroughs - Bexley, Greenwich and Lambeth - each saw supply increase by more than 40 per cent last month.

To compile the Index, HouseSimple looks at data on more than 500,000 properties listed on the Home.co.uk website in more than 100 major towns and cities across the UK as well as in all London boroughs.

In June, so for the period leading up to and immediately after the Brexit vote, new property listings across the UK were down 7.3 per cent and a larger 12.8 per cent in London. 

However, July saw supply rise in almost two thirds of towns and cities across the UK, with new property listings up by more than a half in Durham and up 32.5 per cent in Hartlepool, both in the north east and both areas that strongly voted Leave. 

Yet there appears little consistency to the market. Despite the majority of towns and cities experiencing a boost in supply in July, more than a third experienced significant falls including Bootle, where listings fell 30.8 per cent.

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