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London bucks the seasonal trend in November

November’s data from the Agency Express Property Activity Index, has revealed, with no surprise a slowdown across UK property market as we head towards the festive period. National month on month figures for new listings ‘For Sale’ fell at -7.4% as did figures for properties ‘Sold’ at -8.7%.  

The seasonal trend continued across the twelve regions recorded by the Property Activity Index, with only two regions recording an increase in new listings ‘For Sale’ and three in properties ‘Sold’.

London bucked the trend reporting increases in both new listings ‘For Sale’ at a buoyant 42.79% and properties ‘Sold’ at 5.7%. However, looking back at the index’s historical data we can see that figures for new listings have dropped marginally compared to the same period in 2018 but sales have grown. 

Other regions to buck the seasonal trend included:

New listings ‘For Sale’

  • South East 8.3%
  • East Anglia -0.5%

Properties ‘Sold’

  • North East 2.5%
  • South West 0.9%

The greatest decline in this month’s Property Activity Index was once again recorded in Scotland. Reporting declines across the board, new listings ‘For Sale’ fell for a second consecutive month at -24.9% and properties ‘Sold’ for a sixth consecutive month at 18.1%. Again, looking back at the index’s historical record we can see that activity was greater 12 months previous, but not greater beyond that.

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 expect for the market to slow in pace but we have seen a change in trend across the London property market over the last two years. Looking onwards to December, it is an inherently slow month for the industry and as we now head towards the General Election date, we would expect the pace to be slower than usual.

 

Monthly % Changes for November 2019

% Changes for Sep - November 2019

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
Nov 19 Nov 18 Nov 19 Nov 18
NATIONAL -7.4 -13.6 -8.7 -11.4
Central England -6.4 -20.8 -13.5 -9.7
East Anglia -0.5 -12.2 -10.4 -4.6
East Midlands -14 -21.2 -14.4 -11.6
London 42.9 41.7 5.7 -13.4
North East -12.9 -20.4 2.5 -6.6
North West -15 -11.8 -6.6 -3.1
Scotland -24.9 -19.4 -18.1 -19.6
South East 8.3 -7.1 -3 -8.5
South West -15.1 -16.5 0.9 -8.6
Wales -14.1 -31.4 -16.1 -15
West Midlands -16.1 -26.4 -8.7 -19.2
Yorks & Humber -16.6 -13.5 -15.4 -19.1
New Listings Properties Sold
Sep -
Apr 19
Sep -
Nov 18
Sep -
Nov 19
Sep -
Nov 18
NATIONAL -3.5 3.7 -1.3 6.2
Central England -2.2 5.4 -4.7 4
East Anglia 3.2 0.8 1.4 3.3
East Midlands -7.3 6.6 -2.6 10.6
London 17.6 22.3 4.9 -1.7
North East -8.5 1.3 -3.1 10.4
North West -5.4 1.3 0 8.1
Scotland -10.9 0.1 -8.9 5.5
South East 3.3 6.2 2.4 5.5
South West -8.2 0.2 0.9 4.8
Wales -7.5 -3.1 -3.4 5.9
West Midlands -7.5 4.4 -5 10.6
Yorks & Humber -8.6 6 -0.8 10.2
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