A sombre month for May

The latest data reported by the Agency Express Property Activity Index has shown slow movement for the UK property market in May. National figures for properties ‘Sold’ declined by -1.2% as did figures for new listings ‘For Sale’ which fell  by -0.6%.  However looking back over the Index’s historical records a minor downturn in May is not unusual.  More optimistically the Property Activity Index’s rolling three monthly figures revealed that during the period new listings ‘For Sale’ increased by 2.10%. Properties ‘Sold’ also rose by 2.30% - a substantial increase on 2014’s figures where we observed a fall of -0.20%.

Although month on month we have witnessed a dip in new listings demand for property is still on the rise. In recent press it has been stated that buyers are set to have their pick of properties with a forecasted post-Election surge of home sellers.  Regional month on month data recorded by the Property Activity Index reveals that London may have already seen the effect of the surge, with new listings ‘For Sale’ rising  10.5%. Further increases have also been recorded for Yorkshire and Humberside rising by 7.6% and Scotland by 7%.

Looking at performance across the rest of the UK, five of the twelve regions recorded by the Property Activity Index reported increases in properties ‘Sold’.  Scotland was the most prominent performer reporting record bests for May, rising by 15.6%.

The largest declines made for properties ‘Sold’ in this month’s Property Activity Index were recorded by the North East and the South East.  The North East fell by -10.50%, however it did see an increase of 0.70% over the three month rolling period.  Properties ‘Sold’ in South East fell by -7% marking the region’s largest decline for the month since the Index’s first records in 2007.

 Agency Express Comments

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

Last month we saw some fascinating figures revealed by the Property Activity Index. It was clear to see that the General Election had taken its toll on the UK property market.  Looking at figures post-Election and we would have hoped for more of a bounce back across the board. However London has returned strong, with the threat of mansion tax lifted it seems that confidence has returned among the high value home sellers.

Monthly % Changes for May 2015

% Changes for Mar - May 2015

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
May 15May 14May 15May 14
NATIONAL-0.60-1.2-0.9
Central England-6.10.6-2.418.5
East Anglia-2.9-32.8-3.9
East Midlands-4.17.72.97.9
London10.528.4-1.72.2
North East-0.6-9.9-10.5-1
North West-0.5-11.2-3.9-15.5
Scotland71015.60.8
South East-9.7-3.4-7-4.6
South West-2.911.7-4.98.6
Wales-2-6.21-1
West Midlands-6.3-17.7-5.7-1.2
Yorks & Humber7.6-1.41-3
New ListingsProperties Sold
Mar -
Oct 15
Mar -
May 14
Mar -
May 15
Mar -
May 14
NATIONAL2.13.82.3-0.2
Central England1.5-3.11-3.1
East Anglia1.90.80.7-2.9
East Midlands-1.55.43.31.4
London77.71.9-4.2
North East0.6-5.90.7-1.5
North West1.18.72.82.2
Scotland5.64.64.33.3
South East0.42.23-0.9
South West1.833.2-0.7
Wales2.54.71.16.4
West Midlands-0.211.92.3
Yorks & Humber1.58.74.85.6
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