Augusts property market sees a pick up in sales

The latest month on month data from the Agency Express Property Activity Index, has releveled a pick up in sales for the UK property market in August.

Following an early seasonal slowdown in June, national figures for properties ‘Sold’ have now climbed back to an average level of 1.5%. In contrast figures for new listings ‘For Sale’ have remained down at -2.3%. Although the declines made in 2017 are less than those recorded in 2016 and 2015.

August's Property Activity Index also appears in line with recent market commentary from the Council of Mortgage Lenders who said "The property market has been steady, with approvals and transactions both in line with their 12 months averages."

Looking at performance across the rest of the UK, five twelve regions recorded by the Property Activity Index reported increases in both new listings ‘For Sale’ and properties ‘Sold’.

This month’s prominent performing region was the West Midlands. Month on month figures for properties ‘Sold’ sat at a record best 11.3%, while new listings sat at a robust 4%. 

Of the remaining regions, buoyant figures were also returned from:

New listings ‘For Sale’

  • Yorkshire & Humberside 3%
  • Central England 3.7%
  • Scotland 1.1%
  • Wales 0.9%

Properties ‘Sold’

  • Scotland 7.6%
  • North West 7.1%
  • Yorkshire & Humberside 6.6%
  • Central England 0.2%

The largest decline in Augusts Property Activity Index was recorded in the capital. Figures for newly listed properties across London fell for a second consecutive month, sitting at -15.7%. While the decline looks significant it is not unusual for the month, and the Index does show that overall activity has increased year on year.

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said: This month the UK property market has seen some seasonal decline which is not unexpected. Overall, we are still witnessing year on year growth although the pace of the property market has felt slow this summer. 

 

 

Monthly % Changes for August 2017

% Changes for Jun - August 2017

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 17 Aug 16 Aug 17 Aug 16
NATIONAL -2.3 -4.4 1.5 2.8
Central England 3.7 -1.7 0.2 4
East Anglia -0.2 -4.4 -1.6 -0.6
East Midlands -4.2 0.7 -0.2 13.8
London -15.7 -16.7 -3.6 -4.6
North East -5.7 -8.2 -10.5 15.7
North West -2.7 -2.8 7.1 -1.4
Scotland 1.1 11 7.6 15.2
South East -5.5 -5.5 -0.9 2.7
South West -4.4 -4.4 -0.1 7.2
Wales 0.9 -5.7 -1.4 2.2
West Midlands 4 -12.1 11.3 -2.2
Yorks & Humber 3 -2.1 6.6 6.3
New Listings Properties Sold
Jun -
Dec 17
Jun -
Aug 16
Jun -
Aug 17
Jun -
Aug 16
NATIONAL -3.3 -3.4 -2.5 -1.5
Central England -3 -4 -3.2 -6
East Anglia -3.8 -6.2 -4.8 -5.1
East Midlands -1.6 0.7 -0.8 3.9
London -7 -7.8 -6.5 -8
North East -1.8 -0.5 -6.2 -3.8
North West -2.4 -1 0.3 0.6
Scotland -5.8 -3.2 1.7 -0.8
South East -7.3 -1.3 -6.1 1
South West 1.1 -3.5 0.3 1.1
Wales -1.4 -3 1.3 1.7
West Midlands -1.7 -1.4 1.5 5.2
Yorks & Humber -2.1 -1.6 -4.8 -0.8
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