Year on year declines for UK property market in October

Following a mixed month for the UK property market in September, the latest data from the Agency Express Property Activity Index has revealed a continuation in the trend throughout October.

National month and month figures for properties ‘Sold’ sat at 8.1% while new listings ‘For Sale’ fell at -3.2%. A seasonal fluctuation in activity is expected in October, but according to the index’s historical records figures were far greater in 2018 with new listings at 10.6% and properties ‘Sold’ at a record best 20.7%.

Observing activity across the twelve regions recorded by the Property Activity Index, four reported increases in new listings ‘For Sale’ while 10 regions reported increases in properties ‘Sold’.

This month’s top performers included:

New listings ‘For Sale’

  • London 6.1%
  • East Anglia 5.5%
  • North West 2%
  • South East 0.6%

Properties ‘Sold’

  • East Anglia 13.9%
  • Central England 12.7%
  • Yorkshire & Humberside 9.8%
  • London 8.5%
  • North West 7.9%

The East Midlands sat at the top of this month’s leader board with figures for properties ‘Sold’ at 26.1%. Following two months of consecutive decline, the increase in figures brought the region back on track for the month.

The greatest declines in this month’s Property Activity Index was recorded in Scotland. Recording declines across the board, new listings ‘For Sale’ sat at -12.2% and properties ‘Sold’ fell for a fifth consecutive month at -6.3%. Again, looking back at the index’s historical record we can see that activity was far greater 12 months previous.  

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

October's Property Activity Index data has reported a slowdown in properties coming on to market across the UK. Traditionally the decline is expected but in 2018 we saw a significant change in this trend. This month's regress in figures could have been a reflection of the impending Brexit decision.

As we now head in to the last few months of the year, we would expect to see a further slowdown in activity. However, with our current level of activity and uncertainty looming across the nation it will be interesting to see how the seasonal slowdown compares to years previous.

Monthly % Changes for October 2019

% Changes for Aug - October 2019

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
Oct 19Oct 18Oct 19Oct 18
Central England-6.221.612.720.9
East Anglia5.5-113.95.5
East Midlands-7.911.226.123.4
North East-4.413.4-8.732.3
North West27.17.913.8
South East0.612.55.117.6
South West-
West Midlands-614.18.133.1
Yorks & Humber-10.316.79.832.9
New ListingsProperties Sold
Aug -
Jan 19
Aug -
Oct 18
Aug -
Oct 19
Aug -
Oct 18
Central England-4.312.5-2.58.9
East Anglia0.25.8-0.62.9
East Midlands-4.511.9012.5
North East-6.910.2-4.89.8
North West-
South East-
South West-6.73-2.76.9
West Midlands-4.714.7-0.522.8
Yorks & Humber-3.311.72.218.8

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