House supply bucks trend

THE property supply in Runcorn bucked a national trend by rising last month despite the Brexit vote.

Online estate agents HouseSimple.com have compiled the latest Property Supply Index, which tracks the number of new properties marketed every month in more than 100 towns and cities across the UK.

Although 68% of those areas assessed experienced a fall in June compared to May’s figure, the homes supply in Runcorn was up by 15.8%, which a website spokeswoman said is one of the largest increases in the country.

The town experienced the greatest rise in property listings in the whole North West and was fifth in the country behind Huntingdon, High Wycombe, Stirling and Inverness.

Alex Gosling, the online estate agent’s chief executive, said: “Fear and uncertainty over the Brexit vote definitely had an impact on buyer and seller confidence in June, with many sellers holding off putting their properties on the market until the result was known.

“Now we know, and although the decision has come as a bit of a shock, at least a degree of uncertainty has been taken out of the equation.

“The property market can now roll up its sleeves and get on with it. Nothing has fundamentally changed overnight and people still need to buy and sell homes whatever the market conditions.

“We still have a supply shortage, and this may well counter any fallout from Brexit.

“For the rest of the year, we may see a small dip in prices as there are choppy seas ahead, but its certainly not the ‘end of the world’ levels predicted by some doom-mongers.

“Supply should hopefully edge up, as fears around the impact of Brexit dissipate, and sellers feel more confident about market conditions and the wider global economy.”