How low did November go

The latest data revealed by the Agency Express Property Activity Index  shows that the UK housing market has significantly slowed in pace as we settle in for the winter months.

National figures for properties ‘Sold’ fell by  -14.7% as did new new listing ‘For Sale’ falling by -12.2%. Although a seasonal adjustment is anticipated November’s figures indicate the largest decline in both properties ‘For Sale’ and ‘Sold’ since 2012; however figures may be marginally skewed by the surprisingly buoyant trend that we witnessed October.

While a drop momentum is still apparent the outlook on the UK property market remains positive. Recent reports from the Council of Mortgage Lenders  revealed that mortgage lending is currently experiencing its strongest spell since the financial crisis and is nearly a fifth higher than a year ago; leaving us optimistic for the New Year.  

Looking at performance across the rest of the UK, two of the twelve regions recorded by the Property Activity Index bucked seasonal trends reporting increases in new listings‘For Sale’. London returned a robust increase of 44% followed by Central England who recorded their best month on month increase for November since 2012, rising by 15.7%. All twelve regions recorded by the Index reported declines in properties ‘Sold’.

This month’s steepest declines were recorded by the West Midlands.  New listings ‘For Sale’ fell by -25% and properties ‘Sold’ fell by -26.8%.  Alongside West Midlands, Yorkshire & Humberside fell by -22.3% in new listings ‘For Sale' and ‘Sold’ Properties fell by -20.2%, both regions recorded their largest month on month decline for November since 2012.

 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.  While this month we have witnessed some year on year declines, particularly in ‘Sold’ figures, the reported increase in lending indicates that we could see a robust start top.

                

Monthly % Changes for November 2015

% Changes for Sep - November 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
Nov 15Nov 14Nov 15Nov 14
NATIONAL-12.2-10.7-14.7-5.2
Central England15.712.3-12.5-7.2
East Anglia-14.5-21.7-7.1-14.1
East Midlands-17.1-17.3-6.5-8.8
London4424.8-15.5-1
North East-30.3-25.7-13.9-6.4
North West-23-7.4-8.57.4
Scotland-24.5-18.3-30.8-10.2
South East-10.3-7.7-19.2-5.5
South West-25.5-13.1-14.11.4
Wales-13.9-15.4-11.80
West Midlands-25-19.6-26.8-4.5
Yorks & Humber-22.3-18.5-20.2-6.8
New ListingsProperties Sold
Sep -
Jun 15
Sep -
Nov 14
Sep -
Nov 15
Sep -
Nov 14
NATIONAL-4-6.5-2-3.1
Central England5.93.60.9-5.4
East Anglia-3.7-8.90.2-5.4
East Midlands-4-13.61.6-8.1
London18.36.9-2.7-7.4
North East-6.7-9.81.52.9
North West-12.8-8.9-2.61.3
Scotland-8.5-8.4-6.7-3.5
South East2.5-4.4-2.9-2.8
South West-9-7.9-4.9-0.2
Wales-7.4-6.4-2.14.3
West Midlands-7.7-10-3.1-1
Yorks & Humber-9.1-10.3-2.5-3.4
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