Pre election momentum for UK property market in May

Following a slowdown across the UK property market in April, the latest data from the Agency Express Property Activity Index has revealed a pickup in pace during May.

Month on month data recorded by the index showed nationwide increases in both new listing ‘For Sale’ sitting at 9.6% and properties ‘Sold’ at 12.3%. Looking back at data recorded twelve months previous, we can also see that year on year figures for new listings continue to increase but properties ‘Sold’ have declined.

Observing performance across the rest of the UK, nine of the twelve regions recorded by the Property Activity Index reported increases in new listings ‘For Sale’ and ten reported increases in properties ‘Sold’. This month’s prominent performers were London and the South East with both regions recording robust increases for May. New listings in the capital sat at 24.6% and ‘Sold’ properties at 21.3%. In the South East new listings sat at 23.5% and ‘Sold’ figures at 22.5%. 

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

New listings ‘For Sale’

  • Scotland 28.6%
  • Central England 11.4%
  • East Anglia 8.9%

Properties ‘Sold’

  • North East 20.1%
  • North West 19.4%
  • East Anglia 11.9%

The largest declines in this month’s index were recorded in Wales. Properties ‘Sold’ fell for a second consecutive month sitting at -3.5%, as did figures for new listings ‘For Sale’ at 0.9%. However, the Property Activity Index’s rolling three monthly data shows more stability with new listings sitting at 2.3%.

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

During May we traditionally see a slower pace throughout the UK property market, and with the imminent General Election a slowdown on some level was anticipated. However, this month’s figures have exceeded our expectations and activity is more robust compared to figures recorded in 2015. Looking forwards we won’t see the full impact of the General Election until Junes figures are collated, so it will be interesting to see if and how the usual trends of the market are affected.

Monthly % Changes for May 2017

% Changes for Mar - May 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
May 17 May 16 May 17 May 16
NATIONAL 9.6 -3.7 12.3 -4.4
Central England 11.4 3.3 8.7 2.5
East Anglia 8.9 12.1 11.9 -1.8
East Midlands 4.8 -10.7 7 -9.2
London 24.6 6.2 21.3 -7.5
North East -1.5 -17.6 20.1 -4.1
North West 6.6 -9 19.4 -8.6
Scotland 28.6 5.2 -5.8 11.1
South East 23.5 -16 22.5 -11.9
South West 0.3 -8.1 11.3 0.7
Wales -0.9 -9.9 -3.5 -4.4
West Midlands -1.9 -7.5 0.6 -14.5
Yorks & Humber 7.4 -10.1 19.7 -2
New Listings Properties Sold
Mar -
Dec 17
Mar -
May 16
Mar -
May 17
Mar -
May 16
NATIONAL 5.5 -0.2 3.9 -5.5
Central England 8.4 1.6 7.3 -6.3
East Anglia 7.7 3.8 5 -3.7
East Midlands 5 -4.7 2.4 -7.7
London 9 4.5 4.2 -7.2
North East 4.4 -8.7 9.5 2.4
North West 0.4 -3.5 1.7 -4.9
Scotland 7.6 5.1 1.3 -2
South East 11 -0.6 5.2 -7.4
South West 4.5 -1.1 5.6 -3.5
Wales 2.3 -1.9 -1.3 -7.8
West Midlands 2.9 -3.2 1.5 -11.6
Yorks & Humber 2.1 -2.8 4.6 -3.5
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