UK property market gains momentum

The latest data from the Agency Express Property Activity Index has revealed momentum for the UK property market in March. Month on month figures recorded by the index have shown a nationwide increase in both new listing ‘For Sale, sitting at 21.7% and properties ‘Sold’ at 18%.

The increase in figures appear consistent with recent reports from the Council Of Mortgage Lenders who stated, “ The housing market has been slowly building up momentum over the last few months, largely getting back to activity levels we saw in the beginning of 2016.”

Observing property market activity across the rest of the UK, all of the 12 regions recorded by the Property Activity Index reported increases in both new listings ‘For Sale’ and properties ‘Sold’.

This month’s top performer was the West Midlands. Setting the pace for the rest of the UK, the region recorded robust increases in both new listings ‘For Sale, sitting at 31.7% and properties ‘Sold’ at 22.6%. The surge in activity was also highlighted by Rightmove in their latest House Price Index. Dubbed as the Mighty Midlands, figures sat at record highs with house prices up by 2.1% month on month and 4.2% annually.

Vigorous activity was also reported in Central England. Following a dip in the property market during February new listing ‘For Sale’ bounced back to sit at 29.4% as did properties ‘Sold’ at 28.8%.

Other regional hotspots in this month’s Property Activity Index included:

Properties ‘Sold’

  • North East 28%
  • South West 23.1%
  • London 20.1%
  • Scotland 19.5%

New listings ‘For Sale’

  • East Anglia 31.7%
  • East Midlands 28.3%
  • South West 26.8%
  • North East 23.6%


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

The month on month increases revealed by March’s Property Activity Index have reported positively across the nation. However, year on year we are seeing a decline in properties ‘Sold’ which is a reflection of the increasing affordability issues. Looking forwards in to April we traditionally experience a seasonal slowdown over the Easter holidays, but we would expect the current trend to resume promptly after.

Monthly % Changes for March 2017

% Changes for Jan - March 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
Mar 17 Mar 16 Mar 17 Mar 16
NATIONAL 21.7 -4.7 18 -10
Central England 29.4 -5.5 28.8 -13.7
East Anglia 31.7 1.1 19 -11.8
East Midlands 28.3 -1.8 15.7 -11.8
London 19.6 -8 20.1 -8.3
North East 23.6 -11.9 28 20.3
North West 6.5 -9.2 12 -7.5
Scotland 20.1 11.5 19.5 -5.4
South East 19.4 -6.8 10.1 -13.6
South West 26.8 -5.1 23.1 -1.6
Wales 13.5 -5.5 12.2 -19.3
West Midlands 31.7 -9 22.6 -13.9
Yorks & Humber 19.3 -9.1 16.3 -10
New Listings Properties Sold
Jan -
Dec 17
Jan -
Mar 16
Jan -
Mar 17
Jan -
Mar 16
NATIONAL 30.6 23.9 24.1 15.2
Central England 33.6 23 25.5 11
East Anglia 32.5 25.6 24.2 16.4
East Midlands 31.9 24.2 24.4 16.4
London 27.9 21.6 23.7 12.7
North East 31.7 18.8 24.7 22.9
North West 29.3 22.2 26.2 17.3
Scotland 30.3 28.5 22.5 16.5
South East 27.6 22.4 20 12.4
South West 33.8 25.4 23.5 16
Wales 30 26 22.5 12.5
West Midlands 33.5 25.4 26 19.4
Yorks & Humber 26.9 22 24.9 16.3
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