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No Sign of a Seasonal Slowdown for the UK Property Market, Reports Agency Express
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Following buoyant activity in September, the latest Property Activity Index from Agency Express confirms that there’s no sign of a seasonal slowdown for the UK property market.
During October, it’s typical to see a seasonal slowdown. However, monthly data from Agency Express shows that, nationwide, both new property listings for sale and the number of properties sold has risen, by 10.6% and 20.7% respectively. This marks a record best month for October.
Observing activity across the individual regions of the UK, Agency Express found that 11 saw growth in new property listings during October, while all 12 reported increases in the amount of properties sold.
The month’s top performing regions included:
New property listings
- Central England: +21.6%
- Wales: +21.5%
- Yorkshire and the Humber: +16.7%
- Scotland: +15.4%
- West Midlands: +14.1%
- North East: +13.4%
- South East: +12.5%
Properties sold
- West Midlands: +33.1%
- Yorkshire and the Humber: +32.9%
- North East: +32.3%
- Scotland: +32.0%
- Wales: +26.7%
- East Midlands: +23.4%
- Central England: +20.9%
A spike in activity was also recorded for London. Following three consecutive months of declines, the number of properties sold in the capital was up by 12.4% in October, while the amount of new property listings rose by 4.0%.
The only decrease in this month’s index was in East Anglia, where the number of new listings dropped by 1.0% over the month.
Stephen Watson, the Managing Director of Agency Express, comments: “October’s Property Activity Index data has reported favourably across the nation. However, as I commented last month, while we have seen a spike in activity, figures are stimulated by a recent surge of agents using Agency Express. The Property Activity Index data gives an insight into current market activity, and this data is drawn from our ever-growing client base. As we now head into the last few months of the year, we would expect to see a slowdown in activity. Although, with our current level of activity, it will be interesting to see how the seasonal slowdown compares to years previous.”
