Property Supply Across The UK Fell By 11.9% In November

More than two thirds (67.4%) of towns and cities experienced a drop in new listings says the Index. In London supply fell by almost a fifth  with just two of the capital’s 32 boroughs seeing a rise in new property listings in November. The biggest riser was Swansea where new property listings last month jumped 89% while the biggest decrease was in Hereford where supply fell by 42.1%. To compile the Index, HouseSimple looks at data on more than 500,000 listed properties to track the number of new properties marketed every month in more than 100 major towns and cities across the UK and all London boroughs. Read more on Housing Excellence.

Tenants’ Finances Close To Breaking

The co-founder of a property listings website claims the UK’s private rented sector is a “ticking time bomb”, with tenants’ ability to absorb rent increases at breaking point. Consistent rent rises in the UK housing market have put immense financial pressure on tenants, with renters in popular areas such as London now shelling out over two thirds of their average income on rent.However, despite tenants’ budgets already being stretched to the limit, they now face even further price rises as droves of Buy To Let landlords pass on the costs of tax changes and new Government legislation in the form of rent rises. But research carried out for TheHouseShop.com claims that almost half (42%) of private renters would not be able to afford an increase of up to 5% in their monthly rent costs. Read more on the Housing Excellence website.

New Property Listings Up By Over 10% In UK Month On Month

New property listings in the UK increased over 10% in September month on month with more than two thirds of towns and cities seeing a rise in supply, the latest research shows. Overall supply was up by 10.4% nationwide with the biggest rise recorded in Basildon in Essex with an uplift of 68.1%. However the supply in Falmouth in Cornwall fell by 27.5% while London saw a respectable 16.5% rise in supply following a typically slow August when home owners traditionally put sales on hold. The UK property market continues to defy predictions of a post-Brexit fall-out with a return to form after the summer lull. Read more on the Property Wire website.