The real estate market in the UK spotted an unusual decrease in the activity of sellers

The number of new property placed in open access on the UK market, fell in October 2016 of 6.9%. Around 4 of 5 cities, a decrease in the supply of new housing, despite the fact that October is traditionally the month of high activity on the market.

The October data are in contrast to September, when, seemingly, the sellers woke up after the summer lull. Now there is a feeling that sellers do not intend to put their facilities at least until Christmas.

Agency Simple House presented its latest index of supply of real estate.

The strongest fall was recorded in Swansea, 52%. Increased supplies only 19% of cities. The largest increase of new objects are marked in Crawley, 30.9% in Chichester to 25% Salisbury by 24.2%, in Peterborough by 16.4% and Birmingham by 14.5%. The city, which marked the largest drop of supply is Stirling, 37.7%, Stevenage – 36.4 , Winchesters – 35, 7 , Hereford – 33.3%.

This sharp drop in buyer activity is unusual for this time of year, as this is typically a period of high activity on the market before a traditional Christmas lull. Even more strange is the behavior of sellers because this autumn has been quite warm, and usually that is encouraging sellers and gives them advantages in demonstrating their properties to potential buyers. As you approach the Christmas holidays all the more the hope is fading about increasing activity to the end of this year. This means that the next burst of activity sellers should be expected only next year , when the market will be under pressure of a pending activity.

® Alice Morgan. 02.11.2016 G.

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