Fewer and fewer new properties being listed in Oldham

Home being listed on the market have dipped in Oldham

New properties coming onto the market in Oldham has fallen in the last month.

The figure for July was down 13.8 per cent on that for June – which is more than twice the UK average.

That follows a 13.4 per cent dip in new listings in June compared to May, suggesting a continuing downward trend.

That’s according to data from online estate agents, House Simple.

Across the UK, new listings fell six per cent in June – with experts suggesting the hot weather might have had an impact.

July and August are traditionally quieter months both for buyers viewing properties and sellers listing homes, and a dip in new supply is not unexpected, even if the weather had been more typical of a British summer.

And Housesimple figures actually show that in more than half (55.7%) of the towns and cities analysed, new stock levels were up in July vs June.

Sam Mitchell, CEO of House Simple, says: “The summer months tend to see a drop off in buyer and seller activity as families head overseas on their holidays.

“This year, more families chose to stay at home and we might have expected to see a mini boost in supply as a result.

“However, no-one predicted we’d have such a glorious July, and it’s hardly surprising people headed to the beach rather than the estate agent.

“There’s no evidence to suggest that buyers and sellers are withdrawing, and even yesterday’s rate rise, is unlikely to have a dramatic impact on the market.

“We may well see subdued seller activity in August as more hot weather is predicted, and then the hope is for a strong September as we enter the crucial Autumn period up to Christmas. 

"However, for sellers who might want to steal a march on the competition, putting your property on in August when stock levels are lower could pay dividends, as buyers will have less choice over the next few weeks.”