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43% more sellers listed their properties in March compared to year earlier

There were 43.3% more new properties listed for sale last month than the corresponding month in 2017, according to the latest Property Supply Index compiled by online estate agents HouseSimple.com.

Comparing like-for-like, HouseSimple figures reveal that across 100 major UK towns and cities, 67,931 new properties were marketed by estate agents in March 2018, compared to just 47,413 in March 2017, the month when Theresa May triggered Article 50.

Also, last year, the number of new properties listed in March actually fell 27.7% compared to February, as buyer and seller confidence was hit by fears that invoking Article 50 would spark economic turmoil. This year, that trend has been reversed, with new properties listed for sale last month up 1.1% compared to February 2018.

The end of March typically marks the start of a buoyant spring period for the housing market. But this year the spring bounce in market activity is expected to happen in April as a blanket of snow covered most of the country and sellers delayed listing their properties.

Chichester saw the biggest uplift in new property listings in March, up 47.1% on February. Durham and Bootle were next with property supply up 32.9% and 29.4% respectively.

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