More London homeowners listed their property for sale in June than in any other month in the past three years, according to a report Wednesday from U.K. real estate agency HouseSimple.
While new property listings were down 3.8% across the whole of the U.K. compared to May, the capital bucked the trend as the number of listings rose 2.8% in the same time.
Almost 33,000 new properties came onto the market in the city last month, the most since before June 2015, when HouseSimple started collating property supply figures, the report said.
Within London, Camden, in the northern part of the city, saw the biggest rise in new listings as supply rose a whopping 31% in June.
Merton, in southwest London, followed, with the number of new listings increasing 11.4%, while in Bexley, in the southeast, new listings rose 9.2%.
HouseSimple tracks the number of new properties listed by estate agents every month across more than 100 major U.K. towns and cities. Three-quarters of towns and cities across the U.K. saw a drop in new properties coming onto the market in June, and the overall fall in supply of 3.8% is the first fall since December 2017, the report said.
However despite the short-term decline, the number of property listings across the U.K. in June was 60.4% higher than in June 2017.
“Although new property supply fell slightly in June, listings still exceeded 70,000 for the second consecutive month across the 100 towns and cities we analyzed,” said Sam Mitchell, CEO of HouseSimple, in the report.
“Seller activity has picked up noticeably since mid-May, particularly in London, where prices have cooled,” Mr. Mitchell said. “More than ever, the key for motivated sellers is to price correctly and competitively to attract buyers.”
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