Drop in number of homes for sale

Stephen Hillier, Cabinet Member for Children  Start of Life

Stephen Hillier, Cabinet Member for Children  Start of Life

1
Have your say

Hemel Hempstead’s property market saw a sharp drop in the number of homes put up for sale between July and August.

A total of 225 homes were put on the market in Hemel in July, but that figure had dropped to 183 in August.

Only five large towns and cities outside of London saw a bigger drop.

The figures come from the latest UK Property Supply 
Index from online estate agents HouseSimple.com who say there is no clear reason for the drop.

Company CEO Alex 
Gosling said: “Across the country there are thousands of frustrated buyers, with 
finance in place, ready to 
purchase, but the property supply reservoir has dried up.

“They must be scratching their heads as to why sellers aren’t marketing, as there’s no clear or single reason why 
sellers are sitting on their hands. The general election was expected to be the 
catalyst for sellers returning to the market.

“We would expect to see activity drop off over the 
summer holidays, so 
September will give us a better gauge as to how imbalanced supply and demand are right now.

“The hope is that after a summer when supply fell off a cliff, sellers will rediscover their appetite over the 
coming months.”

Taunton in Somerset had the biggest drop in the number of new properties put up for sale between July and August, at 31.1 per cent.

Lichfield, Loughborough, Chelmsford and Bedford also had a bigger drop than Hemel did.

The London figures were divided up by each borough, but Mr Gosling described the city-wide situation as 
“reaching critical levels.”

The biggest falls in the number of new homes put up for sale was in Kensington and Chelsea (43.6 per cent), compared with 24.8 per cent across the capital.

HouseSimple compiled their figures by looking at the number of new properties listed on Rightmove each month in more than 100 major towns and cities across the UK and all London boroughs.

Less than a quarter of those towns and cities saw new 
listings rise in August.