National 'For Sale' figures rise in April but sales figures slow

After a slowdown during March, April’s property market bounced back with national new listings ‘For Sale’ figures rising by 8.2%.  Figures for properties ‘Sold’ did not show the same resilience. National data recorded by the Agency Express Property Activity Index revealed an unexpected decline with figures falling by -1.5%. However over a 3 month period ‘Sold’ figures did remain robust with an overall increase of 6.1%. 

Reviewing the latest market commentary from the Council of Mortgage Lenders it was stated that gross mortgage lending was £25.7 billion in March, nearly 60% higher than a year ago but figures were distorted by the stamp duty changes and were likely to remain distorted for the next few months. They also stated that they would expect to see 10,000 fewer mortgage transactions each month in April, May and June, than would otherwise have been the case, which would offset the increase in activity seen in March.

Looking at performance across the rest of the UK, nine of the twelve regions recorded by the Property Activity Index reported increases in new listings ‘For Sale’ and five regions recorded an increase in properties ‘Sold’.  This month’s top performing region is the South East reporting their largest increase in both new listings ‘For Sale’ up by 25.3% and properties ‘Sold’ by 4.6% since 2012. 

Regional month on month data recorded by the Property Activity Index also revealed a buoyant property market in Wales. The 10.7% rise in new listings ‘For Sale’ marked the regions largest month on month increase for April since 2012. Figure for properties ‘Sold’ rose by 3.1% and while the increase may seem subtle in comparison, figures did exceed those recorded 12 months previous. 

The regions recording the largest month on month increases included:

Properties ‘Sold’

  • South East +4.60%
  • East Anglia +3.50%
  • Wales +3.10%
  • Yorkshire & Humber +2.30%
  • North West +1.70%

 New listings ‘For Sale’

  • South East +25.30%
  • London +16.10%
  • Yorkshire & Humber +12.40%
  • South West +10.80%
  • Wales +10.70%

The largest decline in this month’s Property Activity Index was reported by Scotland. ‘Sold’ properties fell by  -10.2% for second consecutive month. New listings ‘For Sale’ recorded less of a decline only falling by -0.9%.

 Agency Express Comments

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said: 

Month on month we see regional figures rise and fall but essentially the market continues to grow. Looking at the Property Activity Index’s rolling three monthly figures we can see that all twelve regions have reported increases in both new listings ‘For Sale’ and ‘Sold’ properties, bar one small decline in Central England of -0.20% in properties ‘Sold’.

Moving in to May and June it will be interesting to see how the figures develop in light of the CML expecting fewer mortgage transactions as April’s figures so far seem to tally with their prediction

Monthly % Changes for April 2016

% Changes for Feb - April 2016

New Listings
% Change over last 12 months vs Previous 12 months

Properties Sold
% Change over last 12 months vs Previous 12 months

New ListingsProperties Sold
Apr 16Apr 15Apr 16Apr 15
NATIONAL8.2-3.8-1.5-4.9
Central England7.21.3-6-9.1
East Anglia-1.8-1.73.5-9.8
East Midlands-1.7-12.3-1.60.9
London16.14.9-5.8-0.7
North East4.2-4.9-6.39.4
North West8.6-3.81.7-0.7
Scotland-0.91.4-10.2-10.8
South East25.3-3.44.61.3
South West10.8-2.8-9.3-2.9
Wales10.7-23.1-10.3
West Midlands7.8-9.7-6.2-4
Yorks & Humber12.4-16.22.3-7.8
New ListingsProperties Sold
Feb -
Jul 16
Feb -
Apr 15
Feb -
Apr 16
Feb -
Apr 15
NATIONAL7.911.86.115.6
Central England3.912.6-0.214.7
East Anglia2.79.85.314.3
East Midlands6.813.17.318.9
London9.511.95.912.1
North East67.61522.5
North West9.211.510.816.7
Scotland14.717.39.113.4
South East12.611.14.915.4
South West8.313.45.216.7
Wales7.612.43.312.7
West Midlands6.212.37.620.8
Yorks & Humber10.38.98.717.6
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