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No January Blues for the UK Property Market, Agency Express Reports
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
There were no January blues for the UK property market last month, according to the latest Property Activity Index from Agency Express.
The data highlights a robust start to 2018, as the UK property market gained momentum throughout January.
Nationally, the figures show buoyant month-on-month increases in both new property listings (by 104.9%) and the number of properties sold (by 41.2%).
Upon review of Agency Express’ historical data, figures recorded in 2018 highlight the largest increase in activity for January since the index’s early records in 2010.
All 12 regions included in the Property Activity Index returned growth in both new property listings and the number of properties sold.
Regional hotspots included:
Properties sold
- West Midlands: +70.8%
- East Anglia: +62.7%
- Yorkshire and the Humber: +60.9%
- East Midlands: +54.5%
- Wales: +49.6%
- Central England: +46.2%
New property listings
- South West: +135.0%
- Central England: +127.3%
- West Midlands: +124.6%
- East Anglia: +118.8%
- North West: +100.6%
- Yorkshire and the Humber: +100.3%
January’s top performing regions were East Anglia and the North West. Following several months of slumber activity, East Anglia reported robust growth in both the number of properties for sale, at 118.8%, and the amount of properties sold, at 62.7%. These figures surpass those recorded in 2017.
The North West followed suit, with a surge of properties coming onto the market. On a monthly basis, the number of new property listings rose by 100.6%, marking the region’s first increase in activity for six months.
The smallest increase was recorded in London. The amount of properties sold rose by 15.5% in January. However, looking back at the index’s historical data, we can see that the year-on-year figure for properties sold has dropped.
Stephen Watson, the Managing Director of Agency Express, comments: “Towards the end of last year, the Property Activity Index highlighted widespread declines in both properties for sale and sold across the UK, with some regions seeing the downward trend beginning in July.
“Now, just a month into the New Year, the figures have turned a corner and year-on-year figures have exceeded those recorded in 2017.”
