Slow summer for UK property market

The UK property market springs no surprises as the latest data from the Agency Express Property Activity Index, reveals a slowdown in activity during July. Month on month figures for new listings ‘For Sale’ fell to sit at -16.6%, as did properties ‘Sold’ for a second consecutive month at -5.9%. However, the index’s historical records show a drop July is anticipated. Looking back over records, yearly comparisons show the declines made in July 2017 are less than those recorded 12 months previous. Figures recorded over a three month rolling period have also reported favourably, again exceeding those recorded in 2016.

Across the country only three of the twelve regions recorded by the Property Activity Index bucked the seasonal trend. This month’s top performer was the North East. Following three months of decline new listing ‘For Sale’ rose to sit at 3.1%, while properties ‘Sold’ sat at a record best 10.7%.   

New listings ‘For Sale’

  • East Midlands +4.4%
  • North East +3.1%
  • Scotland +2.5%

Properties ‘Sold’

  • North East +10.7%
  • South West +4.4%
  • Wales +0.4%

The largest declines in July’s Property Activity Index were recorded in London. New listings in the capital sat at -46.1% and properties ‘Sold’ at -8.7%. Again, looking back over the index’s historical data records show that this year’s figures are better than those recorded in previous years.

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

Throughout the summer holiday months seasonal adjustments are anticipated, so we are not surprised by July’s figures and expect similar trends in August. This aside the UK property market seems to have plateaued along with lending, so the usual September bounce back may not be as robust.

Monthly % Changes for July 2017

% Changes for May - July 2017

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 17 Jul 16 Jul 17 Jul 16
NATIONAL -16.6 -15.3 -5.9 -8.8
Central England -22.9 -12.1 -14.6 -19
East Anglia -20.5 -16.8 -3.8 -10
East Midlands 4.4 3.1 -2.5 -11.8
London -46.1 -49.9 -8.7 -19.9
North East 3.1 -2.4 10.7 -22.7
North West -8.8 -0.5 -4.1 0.2
Scotland 2.5 -15.3 -12.8 -18
South East -20.3 -17.1 -8.7 -3.7
South West -1.8 -9 4.4 -3.8
Wales -8.2 -1.9 0.4 3.2
West Midlands -9.3 5.6 -12.6 -4.3
Yorks & Humber -13.3 -11.3 -11.9 -8.8
New Listings Properties Sold
May -
Dec 17
May -
Jul 16
May -
Jul 17
May -
Jul 16
NATIONAL 0.3 -3.2 0.8 -3.8
Central England -0.6 -2.3 -0.6 -5.9
East Anglia -1 -1.2 -0.5 -5.2
East Midlands 1.4 -3.4 1.4 -3.6
London 2.5 -2.2 0.9 -8.8
North East -0.4 -4.2 3.6 -8.9
North West 0.5 -3.3 3.7 -2
Scotland 2.3 -4.4 -2.6 -1.8
South East 0.9 -5.2 0.8 -4.2
South West 2.7 -4.8 3.8 -1
Wales -1.9 -4.6 0.7 -0.6
West Midlands -3.5 0.2 -1.8 1
Yorks & Humber -0.6 -4.4 -0.7 -3.3
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