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July jump for Hounslow property

by Marco Cillario Fri 5 August 2016, 12:53 pm

The number of properties coming onto the market in Hounslow in July 2016 increased by 4.2% on June, in a sign that sellers might have overcome worries about falling house prices, following Britainís vote to leave the European Union.

The Property Supply Index, published by online estate agent housesimple.com, shows growth in the new house offer in the west London borough followed a decrease by 12.2% in June compared to May. The June fall was consistent with a general trend in the country, with new properties listing down 7.3% across the UK and 12.8% in London, as owners appeared to be holding off marketing their properties because of uncertainty on the EU referendum outcome.

But July saw a supply recovery, according to the index, which looks at new properties listed in more than 100 UK towns, cities and boroughs: listing went up 3.4% in the country and 13.7% in the capital.

Supply rose in almost two thirds (62%) of towns and cities across the UK. But more than a third experienced a significant fall in new properties listed.

“The reality is that people need to sell for a whole host of reasons, and delaying post-Brexit is simply not an option if people are relocating for work or family reasons,” said Alex Gosling, CEO of online estate agents housesimple.com. 

However, he admitted that buyers were holding a few more cards now, and motivated sellers might need to be more flexible on price negotiations.

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