Property market growth for September but yearly figures fall

Following an unexpected spike in activity during August, the latest data from the Agency Express Property Activity Index has revealed further month on month increases for the UK property market in September.

New listings ‘For Sale’ sat at 3.5% and properties ‘Sold’ at 2.8%. While this month’s figures indicate growth, yearly figures show greater activity in the market during September 2015, where the supply of new listings sat at 4.5% and properties ‘Sold’ at 6.9%.

Looking at regional activity across the rest of the UK, eight of the twelve regions recorded by the Property Activity Index reported increases in both properties ‘Sold’ and new listings ‘For Sale’.

The areas to record the largest month on month increases included:

Properties ‘Sold’

  • North East +18.30%
  • Central England +9.00%
  • London +8.50%
  • South East +8.40%
  • West Midlands +8.20%
  • East Midlands +8.20%


New listings ‘For Sale’

  • North East +38.30%
  • London+19.90%
  • South East +9.10%
  • West Midlands +6.40%
  • Central England +5.60%
     

This month’s top performing region was the North East. Figures for properties ‘Sold’ increased for the second consecutive month to sit at 18.3% and new listings ‘For Sale’ sat at record best 38.3%. London followed suit with new listings sitting at 19.9%, however over a three month rolling period figures for the capital were down at -26%.

The largest declines recorded in this month’s Property Activity Index were made in Scotland and Wales.  New listings in Scotland sat at -3.6% and properties ‘Sold’ at -5.4%, marking the region’s largest decline for September since the Property Activity Index’s first records in 2012.

In Wales new listings ‘For Sale’ fell for a fifth consecutive month to sit at -10.1% and properties ‘Sold’ sat at a record low of -3.9%.  However with news of increased mortgage lending and a rise in consumer confidence our outlook for the Welsh property market remains positive. 

Agency Express Comments

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

Throughout September an increase in activity across the UK property market is anticipated. The month on month figures for September are robust, but in contrast to those recorded 12 months previous we have witnessed less growth.  As we now move in to the tail end of the year where further seasonal adjustments are expected, it will be interesting to see how the market performs in comparison.

Monthly % Changes for September 2016

% Changes for Jul - September 2016

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
Sep 16Sep 15Sep 16Sep 15
NATIONAL3.54.52.86.9
Central England5.68.899.7
East Anglia1.11.34.612.3
East Midlands-6.93.48.22.8
London19.922.18.53.4
North East38.38.118.314.9
North West-0.9-143.5-3
Scotland-3.67.7-5.4-3.8
South East9.1298.410.6
South West2.20.3-114.2
Wales-10.11.8-3.910.3
West Midlands6.411.78.29.2
Yorks & Humber1.50.3-2.39.6
New ListingsProperties Sold
Jul -
Oct 16
Jul -
Sep 15
Jul -
Sep 16
Jul -
Sep 15
NATIONAL-6.1-7-1.3-2.5
Central England-3.2-11.4-3.10.6
East Anglia-7.5-10.6-2.3-2.6
East Midlands-1.1-33-4.9
London-26-22.3-6.7-9.6
North East8.3-1.72.2-4.1
North West-1.4-2.50.70.2
Scotland-3.4-5-3.8-4.5
South East-5.6-7.32.5-0.8
South West-4-5.8-2.7-2.5
Wales-5.81.30.40.1
West Midlands-0.4-1.40.4-2.7
Yorks & Humber-4.3-3.9-1.8-0.6
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