Seasonal slowdown ‘sharper than usual’ as vendors hold off

New listings tanked in December, according to online agent

December is rarely a big month for new listings, but the final few weeks of 2016 look to have been particularly arid.

After totting up the number of new instructions listed on Home.co.uk in December 2016 and comparing with the preceding month, online agent HouseSimple.com has chanced upon some fairly big movements.

The number of new instructions posted in London sank by -53.6% month-on-month, with the biggest falls seen in the boroughs of Bromley and Enfield (-62.3% and -60.2% respectively). That was slightly above the UK average of -46.9%, although the sharpest declines were seen in the North West and West Midlands. 

Here’s the numbers…

UK

Town/City

Region

% fall in new listings in December vs. November

Southport

North West

-71.2%

Rugby

West Midlands

-70.1%

Edinburgh

Scotland

-66.6%

Bootle

North West

-65.8%

Inverness

Scotland

-64.9%

Crawley

South East

-59.3%

Newquay

South

-58.3%

Aberdeen

Scotland

-57.8%

Southend-On-Sea

East

-56.2%

Watford

East

-56.2

London Boroughs

London Borough

% fall in new listings in December vs. November

Bromley

-62.3

Enfield

-60.2%

Hackney

-59.5%

Bexley

-59.4%

Kensington and Chelsea

-59.3%

Haringey

-58.8%

Ealing

-58.2%

Waltham Forest

-57.6%

Kingston upon Thames

-57.4%

Harrow

-57.0%

Alex Gosling, CEO of HouseSimple.com: The run-up to Christmas is chaotic, so most people wait until January to put their house on the market – as a result, a slowdown in new listings is pretty typical. But the December just gone was particularly slow and the fear is that this steep drop-off could hail the start of a more tentative market as inflation starts to rise and people feel less confident financially. How the job market and economy perform will be critical for the property market in the months ahead.”