Number of property listings in the UK falls by 13% in August
The number of homes listed for sale in the UK has seen a dramatic fall in what is already traditionally one of the quietest months of the year for property sales, it has been reported.
August tends to be a month in which property market activity is generally subdued, largely thanks to the fact that people put their intentions to both sell and buy on hold while their kids are out of school for the summer break.
However, even by these historical standards, August 2017 has been a particularly quiet month, with new data published by HouseSimple showing that there has been a fall of some 13 per cent nationwide in the number of homes listed for sale between July and August.
In addition to this, HouseSimple also recorded a year-on-year fall in new listings, with a 5.9 per cent decrease when compared to the same month a year ago.
Alex Gosling, HouseSimple's chief executive officer, said that the main concern for the market will be the latter of these two statistics. He said the monthly drop off in listings is no surprise for the property sector, but that a slower month than last year should make people sit up and take notice.
Overall, he said, there has been a subdued attitude towards selling properties across the country since the general election in June, going on to say that it's now time, since summer has now come to an end, for the market to start to pick up pace once more.
"The property market needs a strong September after a subdued period since the general election. Hopefully a line will have been drawn under the first half of the year, concerns about economic conditions will have dissipated, and buyers and sellers will come back from their summer break with renewed confidence to move forward," Mr Gosling added.