‘Moving’ into 2013 New Year, new property market.

The latest figures from Agency Express’ Property Activity Index report have revealed encouraging signs for the UK housing market as it moves confidently in to 2013. Data recorded by the index has shown a national increase on properties sold throughout January, highlighting a substantial rise of 7.7% over figures during the same month in 2012.  

January’s figures tentatively indicate the first signs of what is predicted to be a turnaround in the property market.  Lenders such as NatWest and HSBC are primed with five-year mortgages fixed at rates under 3%, whilst others like Nationwide, Coventry and Skipton building societies have cut rates in recent weeks.  It seems that the Bank of England’s ‘Funding for Lending Scheme’ is now taking shape and is driving the growth forward.  Financial institutions are now taking advantage of the extra capacity and are adjusting their offerings to tempt new business.

Regional month on month data recorded by the Agency Express Property Activity Index shows a thriving central England with an increase of 79.6% on properties coming on to the market, a massive  52% increase on the figures recorded for January in 2012.  An 11.7% increase was recorded for properties sold, resulting in the region reporting its best figures for the month within the last two years.

The North East displayed significant increases on properties sold, up by 14.8% also recording the best figures for the region since 2008. Further notable increases have been recorded for London up by 23.3% which a healthy increase of 18.7% for the capital in comparison to previous years figures.

 The Property Activity Index also shows a minor increase of 0.5% on properties sold in the North West. However looking back over a 3 month period, the month on month data recorded by the index shows a total drop of -12.7%. While these figures have risen in comparison to previous years the North West is still yet to catch with surrounding regions.

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:  Many changes are occurring in the way in which mortgages are being offered by lenders. New deals, dropped rates and incentives are being reported almost on a daily basis. However great rates come at a high price, and although 2013 seems to be the year to secure yourself a deal, without some substantial savings or family support, first time buyers can still expect to pay above the odds. Nevertheless the forth coming months will be an intriguing time for the property market. We have come a long way since the start of the recession and with the uncertainty of the last few years it’s great to once again see some excitement and positivity in the market place.  

Monthly % Changes for January 2013

% Changes for Nov - January 2013

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
Jan 13Jan 12Jan 13Jan 12
NATIONAL53.863.1-0.3-6
Central England79.627.611.7-10.4
East Anglia44.872.63.3-5.4
East Midlands29.843.1-14.34.6
London58.360.928.3-9.6
North East132.342.914.8-21.1
North West61.980.60.5-11.3
Scotland32.145.7-19.7-9.3
South East87.194.6-6.414.2
South West67.698.4-5.7-1.5
Wales62.373.1-10.2-8.9
West Midlands57.567.7-14.2-15.6
Yorks & Humber21.139.1-0.30.7
New ListingsProperties Sold
Nov -
Jul 13
Nov -
Jan 12
Nov -
Jan 13
Nov -
Jan 12
NATIONAL-7.3-4.3-11.7-12.4
Central England-3.8-1-7-11.5
East Anglia-6.8-7.5-15.8-15.2
East Midlands-11-5.3-12.3-6.3
London-3.31.9-10.2-12.4
North East6.7-1.1-2.7-9.5
North West-4.7-5.4-5.7-18.8
Scotland-16-8.5-14.4-9
South East-7.61.3-15.2-15.5
South West-5.51-11-4.8
Wales-12-8-15.1-4.9
West Midlands-9.1-6.9-13.1-18.3
Yorks & Humber-8.2-4.1-9-9.1
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