The number of homes for sale grew in May across the UK, new data has shown, allowing the market to bounce back somewhat from a poor April in which new stock levels fell markedly.
In April, HouseSimple previously said, the number of homes that were for sale fell by four per cent nationwide. However, the market has recovered extraordinarily well in May, with a seven per cent rise in available stock helping to wipe out this drop experienced in April.
Overall, it reports, 80 per cent of the towns and cities across the UK experienced a rise in stock levels in May, with Barnsley being the best performer throughout the month, wherein there was a growth of 74.6 per cent in stock. Wolverhampton and Canterbury were also strong throughout the month, with each seeing stock rises of more than 50 per cent.
Alex Gosling, HouseSimple's chief executive, said this latest data shows that there is not the sort of political uncertainty evident in the market that people might expect at the time of a General Election. Given that we are also currently waiting on Brexit outcomes, this is particularly pleasing in 2017.
"Political and economic uncertainty surrounding a general election can often see sellers hold off marketing until after the result is known. However, the seven per cent rise in May suggests many sellers aren’t waiting and marketed their properties last month," he said.
However, while the vast majority of areas across the UK have seen rising stock levels in the last few weeks, there are still those that are experiencing sub-standard performance. According to the data from HouseSimple, places like Oldham, Blackburn and Northampton have all seen stock levels fall by around 20 to 25 per cent in May.