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Agency Express’ Yearly Property Round-Up for 2018
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
With 2018 firmly behind us, it is time to reflect on the events and figures that shaped the UK property market last year. Agency Express has put together its property round-up for the past 12 months:
January
It was a robust start to 2018, with Agency Express’ data showing buoyant month-on-month increases across the UK in both new property listings (+104.9%) and the number of properties sold (+41.2).
Looking back at the Property Activity Index’s historical data, figures showed that this growth was the greatest for the month of January since Agency Express’ first records in 2010.
January’s top performing regions were East Anglia and the North West. Following several months of slumber activity, East Anglia recorded robust growth in both the amount of properties for sale (+118.8%) and the number of properties sold (+62.7%). These figures surpassed those recorded in the same month of 2017.
The North West followed suit, with a surge of properties coming onto the market. Monthly, new listings were up by 100.6%, marking the region’s first increase in activity for six months.
February and March
January’s buoyant trend continued into February, as we witnessed further growth across the UK property market. Month-on-month, new listings rose by 2.7%, while the number of properties sold was up by 15.5%. The index also highlighted annual increases in new listings, but a minor decline in the amount of properties sold.
As we headed into March, the momentum continued. Monthly data showed increases across the country in both new listings (+14.6%) and the number of properties sold (+11.5%). March’s data also found that all 12 regions included in the index saw growth in new listings, while 11 experienced increases in property sales.
April and May
Moving into April, we witnessed the usual downturn in activity, with the number of properties sold down by 1.4%, while new listings fell by 1.9%. However, over a three-month rolling period, the index’s statistics showed stability across the market, with new property listings up by 4.8% and properties sold by 7.8%.
Looking back at Agency Express’ historical data, activity was in fact slower 12 months previous, with properties sold down by 15.1%, while new listings fell by 11.5%.
May saw a spike in activity, with new property listings up by 15.4%, while the number of properties sold rose by 8.1%. Again, looking back at historical data, May 2018’s figures were, in fact, more robust than those recorded in the same month of 2017.
June to September
June revealed further growth for the UK property market. Nationally, new listings increased by 9.4% on a monthly basis, while the amount of properties sold was up by 6.2%. Historical data again showed us that market activity was greater in 2018 than in the previous year. The increase in figures also appeared consistent with market commentary from UK Finance, which reported a 3% rise in mortgage approvals year-on-year.
July’s figures remained true to trend, with a slowdown at the start of the summer holidays. Across the country, new property listings fell by 17.6%, while the amount of properties sold was down by 9.1%.
This downturn continued into August, with new listings decreasing by 6.0% and properties sold down by 3.6%. While a seasonal adjustment was anticipated during this period, these monthly declines were greater than those recorded in the same period of 2017.
As we entered September, activity bounced back, with nationwide increases in both new property listings (+18.0%) and the number of properties sold (+13.8%). All 12 regions included in the index saw growth during this month.
October and November
Following strong activity in September, October’s data revealed further unexpected increases across the UK property market. While, traditionally, we would see a slowdown in activity, the Property Activity Index showed increases across the country in both new listings (+10.6%) and the amount of properties sold (+20.7%). These were both record rises for the month of October.
November’s data remained true to trend, with the number of properties sold down by 11.4% and a decline of 13.6% in the amount of property listings. However, Agency Express’ historical data shows that, year-on-year, activity continued to increase.
December
The latest data for the year of 2018 from Agency Express has, as expected, revealed decreases in December’s property market. Sticking with tradition, new listings fell by 50.8%, while the number of properties sold was down by 41.1%.
Stephen Watson, the Managing Director of Agency Express, comments: “As the UK’s largest estate agency board service provider, we are the first to witness growth in the UK property market. The services we deliver are closely tracked and monitored via our estate agency board management system, Signmaster3. We collect board movement data 24 hours a day, seven days a week, from a property being placed on the market to completion of sale.
“As a result, we are able to share this information with you, and compare what is happening on the streets to what is being reported by financial institutions. Over the past 12 months, we’ve witnessed a mixed property market, with some unseasonal peaks and throughs, but figures have continued to increase year-on-year.”
