Seasonal declines for the UK property market

The latest data from the Agency Express Property Activity Index has revealed a drop in both new listings ‘For Sale’ and properties ‘Sold’ during July. National figures for listings ‘For Sale’ sat at -15.3% and properties ‘Sold’ at -8.8%. However over a three month rolling period the index has highlighted less of a decline, with new listings ‘For Sale’ falling by -3.20% and properties ‘Sold’ by -3.80%. 

Looking back over the Property Activity Index’s historical records we can see that a drop in figures during July is not uncommon.  As the summer holiday month’s commence a seasonal adjustments is anticipated and this year’s figures appear consistent with those recorded in 2013 to 2015.

Across the country only four of the twelve regions recorded by the Property Activity Index bucked the seasonal trend. This month’s most prominent performing region was the West Midlands, reporting a record best increase for July, sitting at +5.60%.

New listings ‘For Sale’

  • West Midlands +5.60%
  • East Midlands +3.10%
  • North West -0.50%
  • Wales -1.90%

Properties ‘Sold’

  • Wales +3.20%
  • North West +0.20%
  • South East -3.70%
  • South West -3.80%

The largest declines recorded in this month’s Property Activity Index were made in London. New listings in the capital sat at -49.90% and properties ‘Sold’ at -19.90%.

Agency Express Comments

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

Throughout July and August we traditionally see a decline in the UK property market. This month the vote to leave the EU did bring an air of uncertainty, but as it stands figures have remained true to trend.  However with the ‘Brexit’ effect yet to emerge it will be interesting to see if September’s figures return with the same vigour.

Monthly % Changes for July 2016

% Changes for May - July 2016

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
Jul 16 Jul 15 Jul 16 Jul 15
NATIONAL -15.3 -15.6 -8.8 -3.1
Central England -12.1 -28.9 -19 3.3
East Anglia -16.8 -16.6 -10 -4.6
East Midlands 3.1 2.6 -11.8 4.1
London -49.9 -51.7 -19.9 -19.4
North East -2.4 4.3 -22.7 -6.9
North West -0.5 -8.3 0.2 10.6
Scotland -15.3 -8.2 -18 -0.6
South East -17.1 -17.8 -3.7 0.3
South West -9 -3.7 -3.8 -5.8
Wales -1.9 -0.9 3.2 1.6
West Midlands 5.6 -1.1 -4.3 -7.7
Yorks & Humber -11.3 -8.8 -8.8 0.1
New Listings Properties Sold
May -
Apr 16
May -
Jul 15
May -
Jul 16
May -
Jul 15
NATIONAL -3.2 -0.2 -3.8 2.6
Central England -2.3 -2.6 -5.9 2.2
East Anglia -1.2 -0.7 -5.2 2.2
East Midlands -3.4 1.9 -3.6 6.1
London -2.2 -4.2 -8.8 -0.3
North East -4.2 6.5 -8.9 5
North West -3.3 -0.3 -2 5.6
Scotland -4.4 0.5 -1.8 5.9
South East -5.2 0.7 -4.2 3.1
South West -4.8 1.4 -1 2.8
Wales -4.6 -0.8 -0.6 7.5
West Midlands 0.2 -0.2 1 -0.5
Yorks & Humber -4.4 0.9 -3.3 -0.2
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