Slower growth for UK property market in February

Following a buoyant start to the year, the latest data from the Agency Express Property Activity Index has revealed further growth the UK property market but pace has slowed. National figures for new listing ‘For Sale’ sat at 10.2% and properties ‘Sold’ at 26.2%.

While a Februarys month on month figures are impacted by January’s post Christmas spike, yearly figures show greater activity in the market during 2016, where the supply of new listings was higher at 23.3% and properties ‘Sold’ at 37.6%.

Looking at performance across the rest of the UK, 11 of the 12 regions recorded by the Property Activity Index reported increases in new listings ‘For Sale’, and all 12 regions recorded increases in properties ‘Sold’. This month’s top performer was the North West. Figures remained on trend with new listings ‘For Sale’ sitting at 38.8% and properties ‘Sold’ at 35%.

Other regional hotspot in the months Property Activity Index included:

Properties ‘Sold’

  • Wales 45.9%
  • West Midlands 37.7%
  • Scotland 35%

 New listings ‘For Sale’

  • Scotland 25.9%
  • Wales 14.8%
  • London 10.8%

The smallest month on month increases were recorded in the North East. New listings ‘For Sale’ sat at 0.8% and properties ‘Sold’ at 0.4%.  Looking at the index’s rolling three monthly data we can see that figures for properties coming on to the market remain robust at 9.8%, but properties ‘Sold’ have declined, sitting at -0.7%.

The only decline in this month’s Property Activity Index was recorded in East Anglia. Figures for new listings ‘For Sale’ sat at -5% and marked the region’s largest decline for February since the index’s first records in 2012.

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

We traditionally see an adjustment in figures during February, and the latest data from the Property Activity Index has shown a slower moving market compared to 12 months previous. However, during the first 4 months of 2016 figures were stimulated by the stamp duty changes, so we may not see a clearer yearly comparison until the summer. 

Monthly % Changes for February 2017

% Changes for Dec - February 2017

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 17Feb 16Feb 17Feb 16
NATIONAL10.223.326.237.6
Central England7.611.113.422.4
East Anglia-59.418.629.2
East Midlands8.328.63047.1
London10.823.824.641.1
North East0.831.60.444.5
North West38.834.93551
Scotland25.944.33562.6
South East3.821.931.529.2
South West10.121.921.333.4
Wales14.819.845.933.7
West Midlands6.523.137.761.3
Yorks & Humber5.233.623.744.1
New ListingsProperties Sold
Dec -
Dec 17
Dec -
Feb 16
Dec -
Feb 17
Dec -
Feb 16
NATIONAL6.111.71.810.1
Central England-22.9-0.711.1
East Anglia-0.312.7-1.38.1
East Midlands8.814.73.49.1
London1.2-11.4-0.98.1
North East9.824.6-0.74.9
North West17.717.88.48.6
Scotland5.48.9-1.210
South East5.48.95.110.7
South West6.620.5-0.310.9
Wales11.715.87.511.9
West Midlands10.318.20.614.5
Yorks & Humber6.618.80.713.2
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