UK property market bucks the trend in February

The latest data from the Agency Express Property Activity Index has revealed buoyant activity across the UK property market in February. National month on month figures for new listings ‘For Sale’ sat at 9.7% while figures for properties ‘Sold’ rose to a record 21.6%.

February’s figures are usually negatively impacted by the January spike. However, this year’s data shows an increased level of activity across the market. Particularly the increase in properties ‘Sold’ which could be a reflection of conveyancers working hard to meet the original stamp duty holiday deadline.  

The upward trend continued with all 12 regions recorded by the Property Activity Index reporting increases in both new listings ‘For Sale’ and properties ‘Sold’. 

Following a slow start to the year, Scotland bounced back with new listing ‘For Sale’ at a robust 41.3% and properties ‘Sold’ on trend at 22.3%, but figures remained down year on year. The North East followed suit with figures for properties ‘Sold’ at 31.5%, reporting record best activity for the month.

Other regional hotspots in this month’s index included:

New listings ‘For Sale’

  • London 22.5%
  • East Midland 16.2%
  • North East 11.7%
  • Wales 10.1%
  • North West 9.9%
  • Central England 9.4%

Properties ‘Sold’

  • Wales 28.8%
  • South West 28.4%
  • Yorkshire and Humberside 24.3%
  • North West 21.7%
  • East Midlands 21.1%
  • West Midlands 19.8%
  • East Anglia 19.7%

The smallest increases in February’s index were recorded in East Anglia and the South East with new listings at 2.9% and 2.2%. However, looking back at the Property Activity Index’s historical records we can see that both regions would typically report a decline in figures for the month.

Commenting on the latest index results, Ben Brookes, Managing Director of Agency Express said: 

A plateau in figures for February following the January post-Christmas spike is anticipated, but this month’s data from the Property Activity Index has bucked the seasonal trend. The stamp duty holiday has undoubtedly kept us all busy in what could have been a tenuous period, but now with an extension until June, a threshold increase until September and a promising road map set to ease restrictions, we would expect to see a rise in the number of board hitting the streets.

 

 

Monthly % Changes for February 2021

% Changes for Dec - February 2021

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 21 Feb 20 Feb 21 Feb 20
NATIONAL 9.7 -0.6 21.6 12.8
Central England 9.4 1.2 12.1 18.2
East Anglia 2.9 -7.6 19.7 6.8
East Midlands 16.2 6.6 21.1 14.2
London 22.5 -10.4 15.6 22.5
North East 11.7 1.7 31.5 10.4
North West 9.9 -1.6 21.7 5.4
Scotland 41.3 20.9 22.3 22.9
South East 2.2 -0.6 19.9 13.2
South West 7 -1.5 28.4 13.8
Wales 10.1 -7.6 28.8 15
West Midlands 4.3 0.8 19.8 13.4
Yorks & Humber 7.5 4 24.3 11.2
New Listings Properties Sold
Dec -
Oct 21
Dec -
Feb 20
Dec -
Feb 21
Dec -
Feb 20
NATIONAL -2.9 3.6 1.7 4.2
Central England -2.6 6 -2 10.8
East Anglia -7.8 -2.1 -1.7 5.1
East Midlands -3.1 13.1 3.4 8.1
London -4 -17.5 -7.3 4
North East 2.2 11.2 8.3 3.7
North West -0.2 2 5.3 -0.4
Scotland -0.3 7.9 1 5.6
South East -5.1 -0.6 -0.1 2.3
South West -6.5 10.6 -0.3 2.1
Wales 3.4 3.2 14 6.1
West Midlands -2.2 6.2 3.1 -0.2
Yorks & Humber 0.7 10.8 4.3 7.5
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