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Supply of new homes rose significantly in September, research finds

The property market was given an early autumn supply boost, according to the latest Property Supply Index put together by online estate agents Housesimple.com.

The Index found that the amount of new properties listed for sale in September throughout the country increased by almost a fifth on the month before, with new supply up 18.1% across major UK towns and cities. The number of new homes for sale went up from 61,472 in August to 72,593 in September.

Although the increase can in part be put down to the traditional lull over the summer period as families head off on their holidays, the number of new homes being brought to market was also up by 6.2% on September 2017.

On a regional basis, London witnessed a massive 45.5% rise in new listings in September, more than double the UK average. It was also the highest level of new supply coming to the market in the capital in any single month since the start of 2015.

Growth in London was comfortably ahead of the city with the second biggest rise in sellers in September versus August – Cambridge – where there was a 36.2% increase in new homes on the market, closely followed by Salisbury (34.1%), Salford (33.8%), Winchester (32.5%), Poole (31.5%) and Sale (27.2%).

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