Full force ahead for the UK property market

The UK property market maintains vigorous pace as property sales continue to flourish and the Council of Mortgage Lenders report that number of first-time buyers taking out mortgages is up by 38%, a record high since 2008.  

Since the launch of the ‘Help to Buy’ scheme the UK property market has seen a new lease of life, helping over 25,000 households to buy new homes which has reinvigorating the market. To the responses of this success George Osborne has announced that he will extend ‘Help to Buy’ for new built homes until 2020, extending the date by four years.  

During the time the Agency Express Property Activity Index has shown national month on month increases for properties ‘Sold’. Following the usual dowturn in January, February picks up pace with an increase 69.74%, emphasising the current growth and strength of UK property market.  Following suit, figures for new listings ‘For Sale’ have recorded a further increase of 52.20% over Januarys 37.8%  

Regional data recorded by the Agency Express Property Activity Index also shows a thriving Welsh property market post the launch of the Welsh ‘Help to Buy’ scheme on 2nd January 2014.  Figures recorded by the index have highlight a 89.44% increase on properties ‘Sold’ and an increase of 67.73% on new listings ‘For Sale’. 

Further regional month-on-month data recorded by the Index highlights wide spread increases in properties achieving a ‘Sold’ status with all 12 regions reporting growth. Top performers include: The West Midlands up by 81.98%, the North West up by 71.03%, York’s & Humberside up by 103.96%, Central England up by 77.34% and the East Midlands up by 73.44%

Looking at regions achieving robust figures on new listings ‘For Sale’ top performer include: Scotland up by 92.17%, the West Midlands up by 70.08%, the North West up by 62.98% and the North East by 73.14%.

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

A robust month for the property market and new home owners will rejoice but can we continue at the current speed of growth? With the extension of the ‘Help to Buy’ scheme demand for property will remain high and house prices will continue to rise. Fears are that prices will be slowly pushed out of some peoples reach with London and the South East most affected. Regardless of speculation the ‘Help to Buy’ scheme seems indisputably the correct course of action to aid the market at present.

Monthly % Changes for February 2014

% Changes for Dec - February 2014

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
Feb 14Feb 13Feb 14Feb 13
NATIONAL52.238.869.751.4
Central England53.249.877.346.9
East Anglia39.533.668.363.7
East Midlands39.865.173.455.1
London49.425.560.840.9
North East73.132.57575.8
North West6338.37124.1
Scotland92.247.847.552.5
South East32.229.758.670.1
South West44.226.258.733.7
Wales67.752.189.487.2
West Midlands70.153.98258.3
Yorks & Humber43.953.210456.6
New ListingsProperties Sold
Dec -
Dec 14
Dec -
Feb 13
Dec -
Feb 14
Dec -
Feb 13
NATIONAL13.49.282.2
Central England1918.417.16
East Anglia12.610.1114.2
East Midlands8.213.81.93.2
London-9.86.910.96.8
North East1731.82.35.1
North West183.25-4.4
Scotland25.32.7-0.4-6
South East8.912.66.94.8
South West13.95.82.9-4.5
Wales17.211.911.26.6
West Midlands24.715.87.52.7
Yorks & Humber179.37.96.6
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