A little festive cheer for UK property market

The seasonal decline was more evident in the number of new ‘For Sale’ listings recorded in November against October, with only one region generating positive month on month figures, (which was London) up +7.8%. At the other end of the table the regional ‘not-so-hot-spots’ for new ‘For Sale’ listings were Central, down -26.9%, Wales down -25.7% and Scotland down - 23.9%. Disappointingly, the number of ‘For Sale’ listings in November 2011 were also down - 1.1% on the same month in 2010 but up +11.0% on November 2009.

A good number of individual cities bucked the seasonal trend and experienced increases in month on month house sales compared to October. Nottingham topped the ‘hot-spots’ with an increase in properties ‘Sold’ in November, up +27.0%, followed by Newcastle up +25.3% and Colchester up +24.2%. At the opposite end, the cities recording the greatest decline in month on month properties ‘Sold’ in November were Coventry down -58.8%, Southampton down - 42.3% and Norwich down -27.4%.

There was a similar picture for individual cities when it came to New ‘For Sale’ activity in November compared to October. Colchester topped the charts with a month on month increase of +13.7%, London up +7.8% and Brighton up +5.1%. Coventry saw the greatest monthly decline in new ‘For Sale’ listings compared to October, down -46.6%, with Bristol down -45.9% and Southampton down -39.2%.

Commenting on the latest Index results, Stephen Watson, Managing Director, Agency Express, said: “As we approach the run into Christmas we naturally expect that market will drop off as consumers switch their focus to the festive period, but Vendors and Agents alike should genuinely take some encouragement from positive signs within our Index. Many individual cities and some regions have managed to buck the seasonal trend established since our Index began in 2007 and shown growth year on year. This is evidence that despite continued uncertainty over house prices and the wider economic fragility, there is still a reasonable underlying demand for properties of all shapes and sizes, up and down the UK”.

Monthly % Changes for November 2011

% Changes for Sep - November 2011

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
Nov 11Nov 10Nov 11Nov 10
NATIONAL-18.5-12.4-6.4-6.1
Central England-26.9-9.2-5.9-8.6
East Anglia-21.3-11.7-12-6.8
East Midlands-18.9-14.39-9.7
London7.8-12.2-11-9.4
North East-10.2-16.918.8-20
North West-18.6-17.9-15-17
Scotland-23.9-13.612-4
South East-3.5-10.3-9.619.6
South West-23.2-14.915.7-4.9
Wales-25.7-1.9-3.14.9
West Midlands-15.2-15.7-15.910.9
Yorks & Humber-21.5-6.7-11.6-11.5
New ListingsProperties Sold
Sep -
Nov 11
Sep -
Nov 10
Sep -
Nov 11
Sep -
Nov 10
NATIONAL-8.7-11.6-1.9-4.2
Central England-8.5-11.82.2-6.8
East Anglia-8.5-10.4-0.7-3.9
East Midlands-7.7-7.54-3.8
London1.8-9.4-3.7-3
North East-7.9-15.5-4.8-11.3
North West-10.4-10.8-1.7-0.8
Scotland-9.5-13-0.5-2.8
South East-7.2-9.3-2.6-2.3
South West-13.1-15.4-0.5-3.7
Wales-15.3-12.7-9-9.6
West Midlands-5.1-13.2-1.9-0.9
Yorks & Humber-9.4-11-6.9-8.6
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