Brexit uncertainty and political conflict may have played a part in sellers deciding to not list their properties in November. New property stock dropped by 33.8% in London and 25.4% across Britain compared to the month before.
Online estate agents Housesimple compiled a Property Supply Index showing that new listings in analysed areas decreased from 68,598 in October to 54,703 in November. Despite this slowdown, new property stock levels were up 5% compared to November 2017.
Property sellers in the North West don’t appear to have been bothered by the uncertainty surrounding Brexit, as many cities and towns across the region have witnessed an increase in new property listings in November. The biggest rise in property stock levels took place in Bootle, St. Helens, and Carlisle.
Across Britain, November new property listings were down in 88% of the 100-plus cities and towns analysed for the Index, and new property stock in London fell by over a third in all of its boroughs.