Seasonal slowdown comes early for UK property market
November’s data from the Agency Express Property Activity Index, has revealed a early slowdown across UK property market as we head towards the festive period.2
National month on month figures for new listings ‘For Sale’ fell at -26.5%. However, with heavy COVID restrictions in place we were not surprised to find that this year’s slowdown in activity was far greater than November 2019.
Of the 12 regions recorded by the Property Activity Index all reported declines in both properties ‘For Sale’ and ‘Sold’. London reported the smallest declines while Scotland reported the greatest.
Commenting on the latest index results, Ben Brookes, Managing Director of Agency Express said:
During November we typically see a seasonal slowdown across the UK property market, but this year’s figures have undisputedly been affected by Lockdown 2 and the general caution across the nation during the period. We have now entered the downward course to Christmas where activity really starts to holt but with COVID vaccines on the horizon and a predicted increase in house prices, we hope to see a bounce in the market come January.
To read the latest Property Activity Index report in full click here