UK property market not so hot in August

The latest data from the Agency Express Property Activity Index, has revealed a decline across the UK property market in August.

National month on month figures for new listings ‘For Sale’ fell at -7.8% as did figures for properties ‘Sold’ at -6.3%. While a seasonal adjustment is expected during August, the month on month decline in figures is greater than those recorded in the same period of 2018, where properties ‘Sold’ sat at -3.6% and new listings at -6%.

Looking at performance across the individual regions recorded the Property Activity Index, all regions bar one reported declines in both new listings ‘For Sale’ and properties ‘Sold’.

The West Midlands sat at the top of this month’s leader board, bucking the seasonal trend with figures for properties ‘Sold’ at 4.5%. The increase marked a record best August for the region

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

New listings ‘For Sale’

  • Yorkshire & Humberside -0.1%
  • North West -1.2%
  • East Midlands -5%
  • West Midlands -6.8%
  • North East -7.7%
  • London -7.9%
  • Wales -7.9%

Properties ‘Sold’

  • Scotland -0.7%
  • North West -2.1%
  • North East -3.1%
  • South East -5.7%
  • Central England -6.7%
  • East Midlands 7.4%

The largest decline in this month’s Property Activity Index was recorded in East Anglia with figures for properties ‘Sold’ at -15.5%. Scotland and the South East followed suit. New listings ‘For Sale’ in the South East fell for a third consecutive month at -13.8% and Scotland sat at a record low of -13.3%.

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

Throughout August a seasonal adjustment is anticipated and although all regions bar one have witnessed substantial slowdowns, we do 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 would expect the usual pick up in pace.

 

Monthly % Changes for August 2019

% Changes for Jun - August 2019

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 19Aug 18Aug 19Aug 18
NATIONAL-7.8-6-6.3-3.6
Central England-11.7-9.1-6.71.6
East Anglia-9.21.2-15.5-6.5
East Midlands-5-15.1-7.4-14.3
London-7.9-27.8-9.3-5.2
North East-7.70.8-3.1-13.1
North West-1.2-4.2-2.1-3.5
Scotland-13.37.9-0.718.9
South East-13.8-7-5.7-6.5
South West-9.5-9.7-9-5
Wales-7.94.1-8.53.9
West Midlands-6.8-7.84.5-1.3
Yorks & Humber-0.1-2.8-7.9-9.5
New ListingsProperties Sold
Jun -
Sep 19
Jun -
Aug 18
Jun -
Aug 19
Jun -
Aug 18
NATIONAL-3.7-5.1-1.9-2.3
Central England-5.7-6.4-3.9-4.6
East Anglia-3.7-6.9-4.1-3.7
East Midlands4.2-2.72.5-1.5
London-10.2-10.5-2.8-2.3
North East-4.2-6.9-5.6-3.8
North West-3-2.2-1.60.4
Scotland-4.10.7-3.42.9
South East-8.7-8.8-5.6-1.9
South West-3.6-2.6-1.6-1.4
Wales-3.3-1.6-2-0.4
West Midlands0-4.72.5-3.4
Yorks & Humber-0.2-4.60-6.5
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