Agency Express has released its November Property Activity Index, revealing a slowdown in the market – an unsurprising development, as we find ourselves entering the festive season.
Month on month, the national figures for properties ‘Sold’ have fallen at -11.4%. The same result has been found for new listings, with figures ‘For Sale’ at -13.6%. However, there is positive news, as the index’s historical data shows an overall increase in year on year activity.
This seasonal trend has continued across the UK, as all but one region has recorded a decline in both properties ‘For Sale’ and ‘Sold’.
The only exception to these results is London, showing itself to be this month’s top performer. Month on month, the region has seen good results for new listings ‘For Sale’, which sat at a buoyant 41.7%. Although, the same cannot be said for properties ‘Sold’, the figures for which were down at -13.4%. Year on year, both of these figures have dropped in comparison to the same period in 2017.
The following regions have seen the smallest declines recorded in this month’s index:
New listings ‘For Sale’
- South East -7.1%
- North West -11.8%
- East Anglia -12.2%
- North West -3.1%
- East Anglia -4.6%
- North East -6.6%
- South East -8.5%
- South West -8.6%
In November’s index, the largest decline that has been reported was recorded in Wales. It saw new listings ‘For Sale’ at -31.4% and properties ‘Sold’ at -15%. Looking nearby at the West Midlands, new listings sat at -26.4% and ‘Sold’ figures at -19.2%. However, year on year, both regions have seen an increase in activity.
Stephen Watson, Managing Director of Agency Express has commented on the latest index: “Throughout November and as we approach the run up to Christmas, we inherently expect for the market to slow in pace. While we have witnessed the usual downturn in activity, year on year figures remain robust.”