Steady February for UK property market

Following a buoyant start to the year, the latest data from the Agency Express Property Activity Index has revealed a continuation in steady activity for the UK property market. National Figures for new listings ‘For Sale’ sat at 2.7% and properties ‘Sold’ at 15.5%.

While this month’s figures are somewhat impacted by January’s post Christmas spike, the index’s archived data shows a year on year increase in new listings but a minor decline in properties ‘Sold’.

Looking at regional performance across the UK, all 12 regions recorded by the index reported increases in properties ‘Sold’ and 10 recorded increases in properties ‘For Sale’.

This month’s top performer was Scotland. Figures for properties ‘Sold sat at a robust 49.5% while new listings ‘For Sale’ remained on trend at 38.1%. The smallest increase in this month’s index was recorded in the East Midlands.  New listings ‘For Sale’ sat at just 1%. Looking back at the index’s archived data we can see that this is the regions smallest increase for February since 2009.

Regional hotspots in this month Property Activity Index included:

New Listings ‘For Sale’

  • West Midlands 15.8%
  • Wales 7.6%
  • North East 2.9%
  • South West 2.3%
  • North West 2.1%

Properties ‘Sold’

  • West Midlands 27.8%
  • South East 21.1%
  • Yorkshire & Humberside 16.6%
  • North East 16.5%
  • Wales 16.1%

The only declines in February’s index were made in East Anglia and the South East. Following a vigorous start to the year new listings ‘For Sale’ slowed across both counties. East Anglia sat at -5.5% but was on par with figures recorded in 2017. The South East sat at 2.3% and marked the region first decline for February since the index first records in 2008. However, the extreme weather conditions experienced in these areas towards the end of the month, may have had some impact on the overall figure.

Commenting on the latest Property Activity Index results, Stephen Watson Managing Director of Agency Express Said:

February’s figures have by and large reported favourably across the nation, and while some regions may have seen a slower pace than 12 months previous activity remains steady. As we look forward in to March, we anticipate that the weather conditions may have a further impact on the index’s figures for some regions, but are confident that normal pace will resume as the weather easies.

Monthly % Changes for February 2018

% Changes for Dec - February 2018

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 18 Feb 17 Feb 18 Feb 17
NATIONAL 2.7 10.2 15.5 26.2
Central England -0.2 7.6 7.6 13.4
East Anglia -5.5 -5 8 18.6
East Midlands 1 8.3 13.7 30
London 0.5 10.8 14.2 24.6
North East 2.9 0.8 16.5 0.4
North West 2.1 38.8 14.5 35
Scotland 38.1 25.9 49.5 35
South East -2.3 3.8 21.1 31.5
South West 2.3 10.1 10.8 21.3
Wales 7.6 14.8 16.1 45.9
West Midlands 15.8 6.5 27.8 37.7
Yorks & Humber -0.1 5.2 16.6 23.7
New Listings Properties Sold
Dec -
Apr 18
Dec -
Feb 17
Dec -
Feb 18
Dec -
Feb 17
NATIONAL 1.4 6.1 1.1 1.8
Central England -4.8 -2 -0.4 -0.7
East Anglia 2.9 -0.3 0 -1.3
East Midlands 6.6 8.8 -2.3 3.4
London -21.5 1.2 -0.9 -0.9
North East 2.8 9.8 -2.1 -0.7
North West 4.2 17.7 -0.9 8.4
Scotland 10 5.4 9.2 -1.2
South East -0.8 5.4 1 5.1
South West 9.3 6.6 -2.5 -0.3
Wales 12.9 11.7 2.9 7.5
West Midlands 11.6 10.3 7.5 0.6
Yorks & Humber 0.1 6.6 7.4 0.7
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