Housing market activity bounces back after Olympics lull

As anticipated, UK property listings and sales recovered during September following a period of unseasonal inactivity thought to have been due to potential buyers and sellers being glued to their TV sets during the recent London Olympics. According to the latest figures from the Agency Express Property Activity Index, month-on-month data for September 2012 showed that UK-wide residential property sales increased by 13%, whilst new ‘for sale’ listings also increased by 17.5% compared to August.

Virtually all the 12 UK regions covered within the Index showed recovery in September with the strongest performers in new ‘for sale’ listings being the North East – up by 25.8%, the East Midlands – up 28.6%, Yorkshire – up 29.3% and the South East which led the way with an increase of 31.3%. For properties actually sold, ten out of the twelve regions again showed month-on-month increases, the exceptions being the North West – down by 2.2% and the East Midlands – down 6.9%. The largest increases were recorded for London – up by 23.2%, the South West – up 26.1%, the South East – up 33.5% and the North East – up by 39.6%.

The upward trend continued for the vast majority of the 22 individual towns and cities covered by the Index. The nation’s liveliest regions for new ‘for sale’ listings were Bristol with an increase of 37.2%, Southampton – up by 40%, Milton Keynes – up 46.3% and Colchester – up by 63.3%. When it came to month-on-month results for properties actually sold in September, compared to August, the best performers were Brighton with an increase of 59.2%, Bristol – up by 67.7%, Coventry – up 69.2% and Newcastle – up by 87.1%

Stephen Watson, Managing Director, Agency Express, commented on the latest Index results saying: “We had our suspicions that the ‘Olympics factor’ was affecting the market last month with figures being unseasonably repressed throughout the UK. September has been a case of back to business as movement returned for both new instructions to sell and for actual completions. Despite this, the market could really do with a period of sustained growth in order to help everyone from first-time buyers to those involved with the construction industry. Although there are different stimulatory moves under discussion – including a relaxing of Stamp Duty for first-time buyers – solid measures have yet to be set in place by the government in order to boost confidence and generate ongoing activity on the required scale.”

Monthly % Changes for September 2012

% Changes for Jul - September 2012

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
Sep 12 Sep 11 Sep 12 Sep 11
NATIONAL 17.3 -7.6 13.2 -5.5
Central England 11 -1.9 17.2 1.4
East Anglia 13.6 -10 9.7 0.7
East Midlands 28.6 -4 -6.9 6.2
London 21 -2.5 23.2 -22.1
North East 25.8 -2.4 39.6 -18.3
North West 15.6 -14.9 -2.2 1.2
Scotland 11.5 2.4 0.8 10
South East 31.3 -6.8 33.5 -8.6
South West 22.6 -12 26.1 -13.8
Wales -0.3 -22.3 22.3 -12.8
West Midlands 9.7 3.1 2.3 -13
Yorks & Humber 29.3 -8.2 19.6 -11.7
New Listings Properties Sold
Jul -
Apr 12
Jul -
Sep 11
Jul -
Sep 12
Jul -
Sep 11
NATIONAL 2.2 -4.7 3 -1.3
Central England -0.8 -0.3 2.8 -1.5
East Anglia 0.8 -6.6 0.8 0.1
East Midlands 7 -2.7 -2.4 -5.4
London -3.7 -10 0.7 -4.9
North East 9.9 -4 3.2 -11.4
North West 3 -1.6 0.2 4.9
Scotland 1.7 -3.6 5.6 4.3
South East 7.5 -8.7 5.5 -8.2
South West 2.1 -2.1 4.4 0.2
Wales 0.6 -4.4 10.4 0.9
West Midlands -0.4 -3.3 9.1 -8
Yorks & Humber 8.1 -6.6 3.7 -2.6
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!