As the country enjoyed the hottest summer on record, new property listings across the UK fell for the third month running, down 6.9 per cent in August versus July, according to the latest Property Supply Index compiled by online estate agents

The Property Supply Index looks at the number of new properties being listed by estate agents every month in 100 major UK towns and cities.

New property supply fell below 62,000 last month, the lowest level since January 2018. While in London, there was a 17.1 per cent drop in new sellers last month, more than double the UK average. This drop in new supply can be placed firmly at the feet of unseasonally hot weather, as homeowners chose barbecues and beaches over selling their properties.

King’s Lynn experienced the largest downturn in new property listings last month, down 36.4 per cent on July. Rugby in the West Midlands saw almost a third (31.7 per cent) fewer new listings. Conversely, Stoke-on-Trent and Lichfield, also in the West Midlands, experienced a 40 per cent boost in new property stock last month.

Following on from a fall in new property supply of 12.7 per cent in July, new listings were down a further 17.1 per cent last month in the capital. New supply has now fallen almost 30 per cent from its high in June. Every London borough saw fewer new listings in August than the previous month

The boroughs of Barnet and Haringey saw the largest drop in new property listings, down 30.4 per cent in August versus July. Barking and Dagenham saw the smallest fall in new listings, down just 1.2 per cent last month.

Sam Mitchell, CEO of online estate agents, said: “One of the hottest summers on record has inevitably had an impact on the property market. Although, properties are selling, Brits understandably took advantage of the fantastic weather, and it’s no surprise they prioritised spending time outside and taking a holiday over moving home.

“Saying that, we did see plenty of sales going through, and the hot summer provided keen sellers with an opportunity to steal a march on the competition and secure a sale while there were less properties on the market.

“Now we are entering one of the traditionally busy periods for the property market. We would expect to see a significant increase in new listings in September and October and sellers will face stiffer competition. But priced correctly, properties are selling despite the Brexit cloud looming overhead.”