Further declines for the UK property market in May

Following a slower than anticipated property market in April, the latest data from the Agency Express Property Activity Index has revealed a further decline in activity during May.

National month on month figures for new listings ‘For Sale’ sat at -9.7% while properties ‘Sold’ performed slightly better at -2.8%. Looking back at the index’s archives we can see that year-on-year figures remain lower than pre covid trends.

Observing performance across the rest of the UK, all twelve regions recorded by the Property Activity Index reported declines in new listings ‘For Sale’ and nine reported declines in properties ‘Sold’. 

The West Midlands bucked the trend with figures for properties ‘Sold’ at 13.1%, reporting record activity for the month. Wales and Yorkshire and Humberside followed suit at 0.9 and 0.6% but figures remain lower than those recorded in 2019.

Of the remaining regions the smallest declines were reported by:

New listings ‘For Sale’

  • Scotland -1.6%
  • Wales -3.7%
  • Yorkshire & Humberside -4.70
  • North West -5.6%
  • West Midlands -6.9%
  • Central England 7.3%

Properties ‘Sold’

  • North West -1.9%
  • Central England -2.2%
  • East Midlands -2.3%
  • North East -3%
  • Scotland -5.5%
  • East Anglia -9%

The largest decline in this month’s Property Activity Index was reported in the East Midlands with ew listings ‘For Sale’ at- 22.2%. However, over a three-month rolling period figures show more continuity at 3.1%.  

Commenting on the latest index results, Ben Brookes, Managing Director of Agency Express said: 

May has historically been a slower month for board movements. However, pre pandemic we had started to see a shift in this trend and year on year figures had risen. Looking at this year’s data, we have seen a decline in activity. This could be largely attributed to the continued uncertainty over restrictions, vendors no longer chasing the £500,000 stamp duty window and an overall sombre air across multiple markets. Looking forwards we could see a further dip as the £250,000 stamp duty window closes, but if restrictions ease we may find more sentiment in the market.  

Monthly % Changes for May 2021

% Changes for Mar - May 2021

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 21 May 20 May 21 May 20
NATIONAL -9.7 5887.6 -2.8 2787.4
Central England -7.3 178600 -2.2 2844.8
East Anglia -12.4 4986.5 -9 2564.8
East Midlands -22.2 30525 -2.3 11600
London -17.5 7346.7 -12.7 3305.6
North East -11.7 1148.6 -3 1038.1
North West -5.6 4500 -1.9 2340.4
Scotland -1.6 4460 -5.5 1421.4
South East -15.7 13528.6 -12.7 7927.3
South West -8.3 4440.7 -0.2 2350
Wales -3.7 2397 0.9 618.2
West Midlands -6.9 4607.1 13.1 4357.7
Yorks & Humber -4.7 17307.7 0.6 5332
New Listings Properties Sold
Mar -
Oct 21
Mar -
May 20
Mar -
May 21
Mar -
May 20
NATIONAL 4.1 -13 4.6 -20.8
Central England 2.6 -11.8 7.6 -20
East Anglia 5 -14.3 4.7 -21
East Midlands 3.1 -11.2 5 -13.1
London 3.4 -10 5.7 -24.6
North East 2.7 -19.8 2.2 -21.7
North West 2 -4.8 1.2 -12.5
Scotland 8.1 -46 7.1 -44.9
South East 2.2 -8.9 1.4 -20.3
South West 3.2 -11.3 3.4 -19.3
Wales 7.3 -22 4.6 -35.5
West Midlands 5.2 -6 8.1 -16.4
Yorks & Humber 5 -10.1 4.7 -16.9
Loading...

Creating the report for you to download...

Request a Quote
Close Let us know how
we can help you...

    Thank you!

    Close Let us know how
    we can help you...

      Thank you!