Unexpected August for the UK property market

The latest data released by the Agency Express Property Activity Index has shown an unexpected, robust sales period for the UK property market in August.  

Figures for properties ‘Sold’ bucked the seasonal trend to sit at 2.8%, a record best outcome for the month. While in contrast, figures for new listings ‘For Sale’ were still affected by the seasonal adjustment, sitting at -4.4%. However the Property Activity Index shows the declines made in 2016 were less than 12 months previous where figures for new listings ‘For Sale’ sat at -7.5%.

Looking at property market activity across the rest of the UK, the robust trend continued. Eight of the twelve regions recorded by the Property Activity Index reported increases in properties ‘Sold’ and two recorded increases in new listings ‘For Sale’.

The regions recording the largest month on month increases included:

Properties ‘Sold’

  • Scotland +15.20%
  • North East +15.70%
  • East Midlands +13.80%
  • South West +7.20%
  • Yorkshire & Humberside +6.30%


New listings ‘For Sale’

  • Scotland +11%
  • East Midlands +0.7%

Scotland was this month’s prominent performer, reporting robust and record best increases in both new listings ‘For Sale,  sitting at 11% and properties ‘Sold’ at 15.2%.  August’s buoyant activity also appeared consistent the latest figures from the Council of Mortgage Lenders  where house purchase lending was reported to be up by 23%.   Encouraging figures were also recorded in the North East. After four consecutive months of a slow moving market the region bounced back recording a robust increase in  properties ‘Sold’, sitting at 15.7%.  

The largest declines recorded in this month’s Property Activity Index were made in London. Falling for a second consecutive month, new listings in the capital sat at -16.7% and properties ‘Sold’ at -4.6%. Again the Council of Mortgage Lenders also reported a substantial decline in home movers throughout London.

Agency Express Comments

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

Historically throughout August a slowdown in the property market is anticipated. However this month we have witnessed a widespread increase in activity, specifically in properties ‘Sold’. This month’s regional data shows eight of the twelve regions bucking the seasonal trend; if we look back at the Property Activity Index from August 2015 we can see that all twelve regions recorded declines.  As we move in to September where a spike in activity is expected it will be interesting to see if the trend continues and how this reflects in the figures.

Monthly % Changes for August 2016

% Changes for Jun - August 2016

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
Aug 16 Aug 15 Aug 16 Aug 15
NATIONAL -4.4 -7.5 2.8 -10.4
Central England -1.7 -5.9 4 -10.3
East Anglia -4.4 -13.6 -0.6 -13.4
East Midlands 0.7 -14 13.8 -19.9
London -16.7 -3.9 -4.6 -9.1
North East -8.2 -15.8 15.7 -16.9
North West -2.8 17.5 -1.4 -6.4
Scotland 11 -12.6 15.2 -8.9
South East -5.5 -22.7 2.7 -11.9
South West -4.4 -13.2 7.2 -5.3
Wales -5.7 3 2.2 -10.4
West Midlands -12.1 -13 -2.2 -8.2
Yorks & Humber -2.1 -2.5 6.3 -10.5
New Listings Properties Sold
Jun -
Apr 16
Jun -
Aug 15
Jun -
Aug 16
Jun -
Aug 15
NATIONAL -3.4 -2.4 -1.5 -0.6
Central England -4 -2.4 -6 -0.6
East Anglia -6.2 -4 -5.1 -3.1
East Midlands 0.7 -1.7 3.9 -2.1
London -7.8 -8.1 -8 -2.6
North East -0.5 0.6 -3.8 2
North West -1 5.5 0.6 4.2
Scotland -3.2 -5.7 -0.8 -1.8
South East -1.3 -3.5 1 1.1
South West -3.5 -2.1 1.1 2.5
Wales -3 0.9 1.7 3
West Midlands -1.4 -2.5 5.2 -1.3
Yorks & Humber -1.6 -2.3 -0.8 -4
Loading...

Creating the report for you to download...

SignMaster - Online estate agency board management

SignMaster

Estate Agency Board
Service made easy

Find Out More
Estate agency board erectors - Find your local operator

Find your
local operator

Request a Quote
Close Let us know how
we can help you...

Thank you!

Close Let us know how
we can help you...

Thank you!