An upbeat survey by online website HouseSimple claims there has been a 20 per cent increase in the number of homes coming to the market in the past month – and a 44 per cent rise in London.
The agency says the market appears to have shrugged off what it calls ‘Brexit blues’; in its monthly analysis of properties listed for sale on website Home, HouseSimple says new property listings were up 20.2 per cent in September compared to August; in London there was a 44.4 per cent surge in the same timeframe.
These rises are the biggest seen in just a month for around two years.
Two thirds of the local markets in 100 towns and cities analysed by the agency saw an increase in the number of new properties taken on by estate agents in September over August, with new listings up by no less than 71 per cent in Oxford and 60 per cent in Torquay.
The top five biggest supply risers in September were all in the south of the country.
Within London, new property supply rose an astonishing 44.4 per cent in this period with every borough seeing a double digit rise in new listings.
Hammersmith and Fulham, which has seen some of biggest falls in house prices of any borough over the past few months, has seen a deluge of new sellers in September. Listings were up 72.5 per cent.
Kensington and Chelsea saw an even bigger hike in new property listings, more than doubling (108.5 per cent).
HouseSimple chief executive Alex Gosling says this is the first sign that sellers may be moving on from the June General Election. “Although we are still no clearer as to how a post-Brexit Britain might look, enough time has passed since Article 50 was triggered, and the country hasn’t plummeted into recession. Property prices have remained reassuringly stable and that has probably given sellers the confidence boost they needed to re-engage with the market” he says.