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 Listings Properties Sold
Feb 14 Feb 13 Feb 14 Feb 13
NATIONAL 52.2 38.8 69.7 51.4
Central England 53.2 49.8 77.3 46.9
East Anglia 39.5 33.6 68.3 63.7
East Midlands 39.8 65.1 73.4 55.1
London 49.4 25.5 60.8 40.9
North East 73.1 32.5 75 75.8
North West 63 38.3 71 24.1
Scotland 92.2 47.8 47.5 52.5
South East 32.2 29.7 58.6 70.1
South West 44.2 26.2 58.7 33.7
Wales 67.7 52.1 89.4 87.2
West Midlands 70.1 53.9 82 58.3
Yorks & Humber 43.9 53.2 104 56.6
New Listings Properties Sold
Dec -
Apr 14
Dec -
Feb 13
Dec -
Feb 14
Dec -
Feb 13
NATIONAL 13.4 9.2 8 2.2
Central England 19 18.4 17.1 6
East Anglia 12.6 10.1 11 4.2
East Midlands 8.2 13.8 1.9 3.2
London -9.8 6.9 10.9 6.8
North East 17 31.8 2.3 5.1
North West 18 3.2 5 -4.4
Scotland 25.3 2.7 -0.4 -6
South East 8.9 12.6 6.9 4.8
South West 13.9 5.8 2.9 -4.5
Wales 17.2 11.9 11.2 6.6
West Midlands 24.7 15.8 7.5 2.7
Yorks & Humber 17 9.3 7.9 6.6
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