Flagging demand across the UK property market as cost of living increases

April’s data from the Agency Express Property Activity Index, has reported a slowdown across the UK property market in April.

National month on month figures for new listings ‘For Sale’ fell at -10.7 as did figures for properties ‘Sold’ at -13.9%. Historical data recorded by the index shows a consistent downward trend for April, but the decline in activity this year is greater than 12 months previous.

Observing activity across the individual regions recorded by the Property Activity Index, all twelve reported declines in new listings ‘For Sale’ and properties ‘Sold’.

The smallest declines in this month’s index were reported in Scotland with figures for new listings at -1.9% and properties ‘Sold’ at -1.6%. Again, the index’s historical data shows activity to be slower than April 2022, but year on year figures have started to climb.

The regions to record the smallest declines in this month’s index included:

New listings ‘For Sale’

  • Central England -5%
  • East Midlands -5.4%
  • South West -8.5%
  • East Anglia -10.9%
  • West Midlands 11.9%
  • London -12.5%

Properties ‘Sold’

  • North West -9%
  • Wales -9.3%
  • Central England -11.4%
  • East Midlands 11.5%
  • London -12.2%

The largest overall decline reported in this month’s Property Activity Index was recorded in the West Midlands. Figures for properties ‘Sold’ fell for the first time since December at -21.4%. The South East followed suit at -20.9%. Over a three-month rolling period both regions fared well but figures remained lowere than those recorded in 2021.

Commenting on the latest index results, Ben Brookes, Managing Director of Agency Express said: 

It is not uncommon for us to see a seasonal dip in activity throughout April and this month’s figures come as no surprise. There have been several reports of waning demand across the market due to the cost-of-living increases and the pending increase in the Bank of England intertest rates. Ultimately, as we move forward individual affordability will adjust, as will prices and the market will level out again.

Monthly % Changes for April 2022

% Changes for Feb - April 2022

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

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

New Listings Properties Sold
Apr 22 Apr 21 Apr 22 Apr 21
NATIONAL -10.7 -7.4 -13.9 -3.9
Central England -5 -11.1 -11.4 -3.2
East Anglia -10.9 -0.9 -16.8 1
East Midlands -5.4 7.7 -11.5 -0.5
London -12.5 -0.8 -12.2 2.7
North East -14.1 -15.5 -15.5 -8.4
North West -13.1 -15.7 -9 -7
Scotland -1.9 0.1 -1.6 3.5
South East -14.3 -13.7 -20.9 -0.5
South West -8.5 -12.9 -13.2 -10.2
Wales -14.7 -0.2 -9.3 -3
West Midlands -11.9 -10.3 -21.4 -9.4
Yorks & Humber -13.8 -8.1 -16.2 -6.5
New Listings Properties Sold
Feb -
May 22
Feb -
Apr 21
Feb -
Apr 22
Feb -
Apr 21
NATIONAL 7.4 10.9 8 12
Central England 5.9 8.2 5.5 12.8
East Anglia 4.2 11.5 5.7 14.4
East Midlands 4.9 18.1 5.8 12.3
London 9.9 17.2 10.8 16.4
North East 6.5 10.4 7.9 11.6
North West 8.3 6.9 10.8 8
Scotland 19.2 20.2 20.8 16.5
South East 7.1 8.8 7.4 12
South West 8.4 8.4 6.6 11.1
Wales 7.4 12.6 9.5 12.4
West Midlands 6.8 9.5 6.4 9.5
Yorks & Humber 5.4 9.4 6 11.4
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