Seasonal slump in November

The latest data revealed by the Agency Express Property Activity Index, shows that the UK housing market has continued to slow in pace as we approach the winter months.  National figures for properties ‘Sold’ fell by 5.20% and new listing ‘For Sale’ fell by 10.70%.  While seasonal adjustments are anticipated the Property Activity Index has highlighted year on year declines for Properties ‘Sold’, with the downward trend beginning in July this year.  Year on year figures for properties coming on to the market still remain buoyant, underlining the ongoing consumer confidence in the market.   Although November’s data does show a marginal drop bringing figures the in line with those recorded for 2012-2013.   

Looking at the UK’s top performers this month, two of the twelve regions recorded by the Property Activity Index bucked the seasonal trend.  For properties ‘Sold’ the North West recorded an increase of 7.40% followed by the South West of 1.40%.  New listings ‘For Sale, Central England recorded their best figure to date for November rising by 12.30% and London recorded a robust rise of 24.80%.

This month’s largest declines were made by East Anglia falling by 21.70%for new listings ‘For Sale’ and 14.10% in properties ‘Sold’.  Alongside them the North East fell by 25.70% for new listings ‘For Sale’ and by 6.40% for properties sold.  Both recorded their largest decline for the month since November 2011.

Scotland also presents itself as a constant performer almost matching seasonal adjustments made in 2013,  Properties ‘Sold’ fell by 18.3% and new listings ‘For Sale’ fell by 10.2%.  However the latest figures reported by the Royal Institute of Chartered Surveyor showed that the number of enquiries from prospective buyers doubled in the last month, leaving the Scottish property market with optimism for forthcoming comings.

Agency Express Comments

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

Throughout November and as we approach the run up to Christmas we inherently expect for the market to slow in pace.  Although we have witnessed some year on year declines, it is important to remember that over all the market remains in good shape.  This month’s figures are not unusually low; they balance up with the current activity in the property market which is more subdued as expected.

Monthly % Changes for November 2014

% Changes for Sep - November 2014

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 14Nov 13Nov 14Nov 13
NATIONAL-10.7-2.1-5.22
Central England12.34.5-7.2-2.6
East Anglia-21.7-13.3-14.1-5.8
East Midlands-17.35.4-8.812.7
London24.862.7-1-1
North East-25.73.9-6.48.4
North West-7.4-11.77.4-0.7
Scotland-18.3-18.5-10.26.5
South East-7.79-5.55.7
South West-13.1-6.91.47.9
Wales-15.4-5.40-7.2
West Midlands-19.6-4.5-4.516.2
Yorks & Humber-18.5-11.5-6.87.6
New ListingsProperties Sold
Sep -
Dec 14
Sep -
Nov 13
Sep -
Nov 14
Sep -
Nov 13
NATIONAL-6.5-2.7-3.14.5
Central England3.61.1-5.44.2
East Anglia-8.9-4.2-5.42.3
East Midlands-13.60-8.17.6
London6.919.9-7.44.2
North East-9.8-22.97.3
North West-8.9-6.61.36.1
Scotland-8.4-8.3-3.5-1.9
South East-4.40.9-2.87.2
South West-7.9-8.7-0.27
Wales-6.4-5.14.3-1.4
West Midlands-10-2.4-112.2
Yorks & Humber-10.3-6-3.41.8
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!