Data from the latest HouseSimple property supply index shows that housing supplies in the UK saw the biggest monthly rise for two years in September 2017. On a nationwide basis listings increased by 20.2%. In London they were up by an impressive 44.4%. There were double digit rises in every Borough but the high figure is driven by huge growth in some key areas. Kensington and Chelsea had the highest figures at 108.5%. Hammersmith and Fulham was second at 72.5%.
One of the biggest issues in the property market over the last few years in London has been limited supplies. That was particularly true this year due to the uncertainty surrounding Brexit. The house supply index shows that confidence is returning and owners are becoming more willing to sell rather than hold on to assets to see what happens with the market. An anticipated drop into recession has not happened and activity is beginning to pick up again.
The news of the rise in listings will be great for buyers of all shapes and sizes. People looking to get on to the property ladder will be pleased with the wider choice they now find themselves with. Movers, whether looking to upgrade or downsize, will also be happy. Investors have more choice too and can get back to looking at expanding their portfolios.
The fact that prime Boroughs like Hammersmith and Fulham and Kensington and Chelsea are seeing the biggest growth is very interesting. These locations traditionally have very high demand from in the UK and overseas because of the prestige and array of attractions the areas offer. A pick-up in the number of deals done would be a good indication that the market is back to being healthy.
At Finefair we keep a close eye on important things like property supplies and demand levels. This helps us to provide the best level of service we can for investors. We are proud to be one of the most experienced teams for estate management Hammersmith and Fulham has. If investors choose to act due to the rise in listings we will be here to help.