After the number of new property listings fell off a cliff in July and August, there are signs that sellers are waking up from their summer slumber. The latest Property Supply Index compiled by online estate agents HouseSimple.com, reveals that new property listings across the UK rose 9.1% between August 2015 and September 2015, and in London by more than a quarter (27.1%).
To compile its Property Supply Index, pay-as-you-go agent HouseSimple.com tracks the number of new properties listed on Rightmove every month, in more than 100 major towns and cities across the UK and all London boroughs.
After a very quiet summer during which housing supply in the UK hit critically low levels, there appears to be some light at the end of the tunnel. More than 60% of the towns and cities that HouseSimple.com compiles figures on, saw an increase in property supply between August and September.
The Scottish market, in particular, has seen a surge in new property listings in September with supply almost tripling (171.1%) in Dundee; while Aberdeen saw a 48.8% rise in new listings, and Edinburgh and Perth listings up 28.3% and 24.7% respectively.
Sunderland saw a massive rise in new property listings, up almost 50% (46.7%) in September compared to August, while Cambridge saw a 35.5% rise in supply between August and September.