Property Market Recorded Unseasonal Dip in April

The UK property market recorded an unseasonal dip in April, according to the latest Property Activity Index from Agency Express.

Across the country, the number of properties sold dropped, by 15.1% over the month, as did new listings for sale, by 11.5%.

Over a three-month rolling period, the index’s data shows more stability across the property market, with new listings up by 5.4% and the number of properties sold up by 7%.

However, looking back at historical records, we can see that figures for April are down when compared to those recorded last year.

Regionally, all of the 12 regions recorded in the Property Activity Index reported decreases in the number of properties sold and those for sale.

The best performing regions for the month of April were:

New listings for sale

• Wales: -4.6%
• North East: -5.4%
• South East: -7.5%
• North West: -9.2%

Properties sold

• Scotland: -7.4%
• Central England: -10.5%
• Wales: -11.4%
• East Anglia: -12.7%

The greatest decrease recorded in April was in London. The number of properties sold dropped for the first time since December, by 22.4%. The North West followed suit, with a 21.4% decline in the amount of properties sold.

The Managing Director of Agency Express, Stephen Watson, comments: “This month, we have witnessed an unseasonal decline in figures, which may be as a result of the two bank holiday weekends and reduced number of working days. However, if we look at the Property Activity Index’s rolling three-monthly figures, we can see that all 12 regions reported increases in both for sale and sold properties, so essentially the market remains steady.

“Moving forwards into May, we generally see a slower pace across the market, then a pick up again in June, but, as we head towards another General Election, it will be interesting to see how the usual figures fair in comparison.”