Property market supply slows in February

Following a buoyant start to the year, the latest data from the Agency Express Property Activity Index has revealed mixed activity across the UK property market in February.

National month on month figures for properties ‘Sold’ remained true to trend at 16.9% but figures for properties coming on to the market fell at -0.7%. While February’s figures for new listings are impacted by the January spike, yearly figures do show a greater level of activity in the market during 2018 with new listings at 2.7%.

Looking at performance across the individual regions recorded by the Property Activity Index, all twelve regions reported increases in properties ‘Sold’ but only five reported increases in properties coming on to the market.

Scotland sat at the top of this month’s leader board with new listing ‘For Sale’ at 24.7% and properties ‘Sold’ at 27.7%. While this month’s figures are buoyant, historical data again shows a greater level of activity in 2018. 

Other regional hotspot included:

New listings ‘For Sale’

  • Yorkshire and Humberside 16.8%
  • North West 7.8%
  • Wales 0.4%
  • East Midlands 0.2%

Properties ‘Sold’

  • Yorkshire and Humberside 23.4%
  • South West 19.7%
  • North East 18.9%
  • London 18.7%
  • North West 17.3%
  • East Midlands 15.1%
  • East Anglia 11.20%

The largest decline in this month’s index was made in London. Following robust activity in January, month on month figures for new listings in the capital fell to -8.8% and to -23.1% over a three month rolling period. Looking back over the index’s historical data we can see that the decline in activity is the largest on record for February. 

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

We typically see figures plateau in February but the latest data from the Property Activity Index has shown a decline in supply compared to the same month in 2018. However, overall figures remain robust and year on year activity continues to increase for us.

Monthly % Changes for February 2019

% Changes for Dec - February 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
Feb 19Feb 18Feb 19Feb 18
NATIONAL-0.72.716.915.5
Central England-6.2-0.212.97.6
East Anglia-7.5-5.511.28
East Midlands0.2115.113.7
London-9.40.518.714.2
North East-2.92.918.916.5
North West7.82.117.314.5
Scotland24.738.127.749.5
South East-7.2-2.321.121.1
South West-62.319.710.8
Wales0.47.610.916.1
West Midlands-8.815.810.627.8
Yorks & Humber16.8-0.123.416.6
New ListingsProperties Sold
Dec -
Mar 19
Dec -
Feb 18
Dec -
Feb 19
Dec -
Feb 18
NATIONAL1.61.40.11.1
Central England-1.7-4.8-1.8-0.4
East Anglia1.42.9-1.80
East Midlands9.16.63.5-2.3
London-23.1-21.51-0.9
North East4.42.8-0.7-2.1
North West5.14.2-1.9-0.9
Scotland2.6104.99.2
South East-3.3-0.80.11
South West1.89.3-1.6-2.5
Wales10.412.91.32.9
West Midlands5.711.6-17.5
Yorks & Humber11.60.13.97.4
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