14 Jun

Drop in UK town property supplies

Drop in UK town property supplies

Drop in UK town property supplies

The number of residential properties on the market in May increase by 4.8 per cent, according to new figures.

However, research from online estate agent HouseSimple showed there was a sharp fall in the number of town properties available.

The index revealed the town of Southport saw a 28 per cent decrease in supply, while Loughborough reported a 24.1 per cent reduction.

This was in contrast to the Midlands, with Lichfield seeing a 56 per cent increase in homes coming on to the market and Chesterfield reporting a 36 per cent rise.

Market experts are predicting the forthcoming European Union referendum is causing a slowdown in properties being put on the market as potential sellers become uncertain about the economic future of the UK – and this could create opportunities for those looking to buy.

"Although property supply was up in May, in large swathes of the country, the number of new properties listed fell," explained HouseSimple’s chief executive officer Alex Gosling.

He added: "On the flip side, this could actually provide an opportunity for prospective buyers, who have their finance in place and can move fast, as they may be able to negotiate a good deal with motivated sellers keen to tie up a sale before 23rd June."ADNFCR-1222-ID-801820157-ADNFCR

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