Unseasonal slowdown for September property market

September’s month on month data from the Agency Express Property Activity Index, has revealed a marginal increase in the number of properties coming on to the market but a decline in properties ‘Sold’.

National figures show new listings ‘For Sale’ sitting at 0.1% while figures for properties ‘Sold’ sat at -2.6%. However, looking back at the index’s historical records yearly comparisons show greater activity in 2018 where new listings sat at 18% and properties ‘Sold’ at 13.8%.

Observing activity across the UK, six of the twelve regions recorded by the Property Activity Index reported increases in new listings ‘For Sale’ and five reported increases in properties ‘Sold’.

This month’s top performing region was East Anglia with figures for new listings ‘For Sale’ at 4.9% and properties ‘Sold’ at 2.2%. Central England followed suit. Following two months of decline new listings bounced at 6.2%. However, looking back over the index’s historical data we can see that activity has slowed year on year for both regions.

Other areas to record month on month increases included:

New listings ‘For Sale’

  • Scotland 3.1%
  • London 2%
  • North East 0.9%
  • Yorkshire and Humberside 0.5%

Properties ‘Sold’

  • South East 5.5%
  • Yorkshire and Humberside 5%
  • Wales 1.4%
  • London 0.5%

The largest month on month declines in September’s Property Activity Index were recorded in the East Midlands. Falling for a second consecutive month and for the first time in September since 2014, figures for properties ‘Sold’ sat at -14.4%. Figures for new listings however were more robust at -0.6%, but again the index’s historical records show that this was the first fall in figures for the month for 3 years. A substantial decline was also recorded in Central England. Figures fell for a fourth consecutive month at -11.5%.

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

During September we typically see a spike in activity following the summer holiday slump. This year however the Property Activity Index has shown a much slower moving market compared to 12 months previous. Moving forwards, based on the seasonal trends we would expect a pickup in activity in October then a slowdown towards the Christmas period. As we move in to these months it will be interesting to see how the year on year comparisons fair.

Monthly % Changes for September 2019

% Changes for Jul - September 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
Sep 19Sep 18Sep 19Sep 18
NATIONAL0.118-2.613.8
Central England6.225-11.53.6
East Anglia4.918.32.210.3
East Midlands-0.644.5-14.429.7
London220.10.5-2.7
North East-8.315.8-2.711.1
North West-310.3-0.716.4
Scotland3.17.8-2.913
South East0.916.35.510.1
South West-4.412.6-3.26.4
Wales-3.97.41.412.4
West Midlands-140.1-12.833.6
Yorks & Humber0.520.6531.5
New ListingsProperties Sold
Jul -
Nov 19
Jul -
Sep 18
Jul -
Sep 19
Jul -
Sep 18
NATIONAL-3.4-3.3-1.8-0.1
Central England-9.2-5.5-6.8-1.1
East Anglia-4.1-1.3-11.2
East Midlands4.411.2-3.97.8
London-18.7-27.7-1.4-8
North East-4.6-0.2-3.8-4.5
North West1.51.503.7
Scotland-0.81-1.76
South East-6.7-9.71.2-5.9
South West-4.4-3.5-2.9-8.2
Wales-2.12.9-2.14.7
West Midlands-0.68.7-3.68.2
Yorks & Humber2.41.32.11.6
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