UK property market remains slow in August

The latest data from the Agency Express Property Activity Index, has revealed a further decline in UK property market activity during August. National month on month figures for new listings ‘For Sale’ sat at -6% and properties ‘Sold’ at -3.6%.

While a seasonal adjustment is expected during this period, the month on month decline in figures is greater than those recorded in 2017, where we witnessed an increase of 1.5% in properties ‘Sold’ and smaller drop in new listings at -2.3%.

Looking at regional performance across the UK, four of the twelve regions recorded by the Property Activity Index reported increases in properties ‘For Sale’ and only three reported increases in properties ‘Sold’.  

Scotland sat at the top of this month’s leader board. Following a slumber market in July the region bounced back reporting robust figures in both new listings ‘For Sale’ at 7.9% and properties ‘Sold’ at 18.9%.

Other regional hotspots in this month’s index included:

New listings ‘For Sale’

  • Wales 4.1%
  • East Anglia 1.2 %
  • North East 0.8%

Properties ‘Sold’

  • Wales 3.9%
  • Central England 1.6%

The largest decline in this month’s Property Activity Index was recorded in London. Figures for new listings ‘For Sale’ fell for a second consecutive month at -27.8% and the index’s historical records also shows a drop in year on year figures. The East Midlands followed suit recording declines in both new listings at -15.1%, properties ‘Sold’ at -14.3% and like London year on year declines.

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said: Throughout August a seasonal adjustment is anticipated and although many regions have seen a substantial slowdown, we continue to see year on year growth albeit it at a slower rate. As we move in to September our outlook remains positive and we anticipate the usual pick up in pace.

Monthly % Changes for August 2018

% Changes for Jun - August 2018

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
Aug 18Aug 17Aug 18Aug 17
NATIONAL-6-2.3-3.61.5
Central England-9.13.71.60.2
East Anglia1.2-0.2-6.5-1.6
East Midlands-15.1-4.2-14.3-0.2
London-27.8-15.7-5.2-3.6
North East0.8-5.7-13.1-10.5
North West-4.2-2.7-3.57.1
Scotland7.91.118.97.6
South East-7-5.5-6.5-0.9
South West-9.7-4.4-5-0.1
Wales4.10.93.9-1.4
West Midlands-7.84-1.311.3
Yorks & Humber-2.83-9.56.6
New ListingsProperties Sold
Jun -
Nov 18
Jun -
Aug 17
Jun -
Aug 18
Jun -
Aug 17
NATIONAL-5.1-3.3-2.3-2.5
Central England-6.4-3-4.6-3.2
East Anglia-6.9-3.8-3.7-4.8
East Midlands-2.7-1.6-1.5-0.8
London-10.5-7-2.3-6.5
North East-6.9-1.8-3.8-6.2
North West-2.2-2.40.40.3
Scotland0.7-5.82.91.7
South East-8.8-7.3-1.9-6.1
South West-2.61.1-1.40.3
Wales-1.6-1.4-0.41.3
West Midlands-4.7-1.7-3.41.5
Yorks & Humber-4.6-2.1-6.5-4.8
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