Posts with tag: properties for sale

It’s been a Slow Summer for the Property Market, Reports Agency Express

Published On: August 4, 2017 at 9:03 am

Tags: properties for sale,property market,property sales,summer

It’s been a typically slow summer for the UK property market, according to July’s Property Activity Index from Agency Express.

It’s been a Slow Summer for the Property Market, Reports Agency Express

The figures show that the property market has sprung no surprises this summer, as the index reveals a slowdown in activity during July.

On a monthly basis, the number of new property listings for sale dropped by 16.6%, while the amount of properties sold fell for the second consecutive month, by 5.9%.

However, looking back over the index’s historical records, a drop in July was anticipated. Annual comparisons show that the declines seen this year are lower than those recorded 12 months ago.

Figures seen over a three-month rolling period are also performing favourably, again exceeding those recorded in 2016.

Across the country, just three of the 12 regions included in the Agency Express index bucked the seasonal trend. This month’s top performing region was the North East. Following three months of decreases, new property listings rose by 3.1%, while the number of properties sold was up by a record best 10.7%.

Other prominent performers included:

New property listings

East Midlands: +4.4%
North East: +3.1%
Scotland: +2.5%

Properties sold

North East: +10.7%
South West: +4.4%
Wales: +0.4%

The greatest declines recorded in July’s index were in London. New property listings dropped by a huge 46.1%, while the amount of properties sold was down by 8.7%. Again, looking back at Agency Express’ historical data, this year’s figures are better than those recorded in previous years.

Stephen Watson, the Managing Director of Agency Express, comments on the latest data: “Throughout the summer holiday months, seasonal adjustments are anticipated, so we are not surprised by July’s figures and expect similar trends in August.

“This aside, the UK property market seems to have plateaued along with lending, so the usual September bounce-back may not be as robust.”

For the latest Agency Express index for the lettings market, click here: /rental-market-activity-cooled-june/

Property Market Recorded Unseasonal Dip in April

Published On: May 9, 2017 at 8:12 am

Author: Em Morley

Categories: Property News

Tags: general election,properties for sale,property market,property sales

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%.

Property Market Recorded Unseasonal Dip in April

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.”

11 Buyers Chasing Every Property on the Market

Published On: February 27, 2017 at 9:53 am

Author: Em Morley

Categories: Property News

Tags: estate agents,homebuyers,properties for sale,property market,property sales

NAEA Propertymark (the National Association of Estate Agents) has today released its January Housing Report, which shows that an average of 11 buyers are now chasing every property on the market.

11 Buyers Chasing Every Property on the Market

An imbalance between supply and demand means that every homebuyer is facing competition from ten more prospective buyers.

Housing demand

The average number of prospective buyers registered per estate agency branch in January was 425 – up by 10% on December 2016, when NAEA members registered 386 on average.

Property supply

The amount of properties available to buy on estate agents’ books in January stood at an average of 38. This is down from 41 in December, and the lowest recorded since July 2016.

The rise in homebuyers and decrease in properties on the market means there is an average of 11 buyers chasing every home.

Home sales

In January, three in ten (30%) property sales were made to first time buyers – a slight decline from December, when 32% of sales were made to this group.

The number of sales agreed per branch rose from an average of six in December to eight last month – returning to the same level seen in November.

Sale prices

More than one in every 20 properties (7%) sold for more than the original asking price in January – the highest amount since April 2016, when 9% sold for more than the asking price.

The Chief Executive of NAEA Propertymark, Mark Hayward, says: “January saw a surge in buyers looking to kick off the New Year with a new home, but competition is rife, with an average of 11 buyers chasing each property.

“The increase in the number of properties selling for more than the asking price in January could be a result of heightened interest and the fact there is simply not enough housing to meet demand.”

He adds: “When the Government issued their Housing White Paper at the start of February, we stated how important it was for the industry to put forward robust solutions to really make a difference, and it’s vital that building more affordable housing is at the very top of their agenda.”

Property Market Sees Monthly Growth in September, But Annual Figures Fall

Published On: October 5, 2016 at 9:10 am

Author: Em Morley

Categories: Property News

Tags: housing,properties for sale,property listings,property market

Following an unexpected spike in activity over August, the property market has seen month-on-month growth in September, yet annual figures are down, according to the latest Property Activity Index from Agency Express.

The number of new property listings for sale rose by 3.5% over the past month, while the amount of properties sold was up by 2.8%.

Although September’s data indicates growth, yearly figures show that a greater level of activity was recorded in September last year, when new property listings increased by 4.5% and properties sold rose by 6.9%.

Property Market Sees Monthly Growth in September, But Annual Figures Fall

On a regional basis, eight of the 12 regions included in the Property Activity Index recorded growth in both the number of properties sold and new property listings.

The areas that experienced the greatest month-on-month increases include:

Properties sold:

North East: +18.3%
Central England: +9.0%
London: +8.5%
South East: +8.4%
West Midlands: +8.2%
East Midlands: +8.2%

Properties for sale

North East: +38.3%
London: +19.9%
South East: +9.1%
West Midlands: +6.4%
Central England: +5.6%

September’s top performing region was the North East. The number of properties sold rose for the second consecutive month, while the amount of new property listings recorded a record best increase.

London was close behind, with new listings up by 19.9%. However, Agency Express points out that over a three-month rolling period, the number of properties for sale has dropped by 26.0% in the capital.

The greatest decreases in September’s Property Activity Index were seen in Scotland and Wales. New property listings in Scotland dropped by 3.6%, while the amount of properties sold was down by 5.4% – the largest decline for September since Agency Express began recording the data in 2012.

In Wales, the number of new property listings fell for the fifth consecutive month, by 10.1%, and the amount of properties sold dropped by a record 3.9%. However, with news of increased mortgage lending and a rise in consumer confidence, Agency Express remains positive over the future of the Welsh property market.

The Managing Director of Agency Express, Stephen Watson, comments on the latest figures: “Throughout September, an increase in activity across the UK property market is anticipated. The month-on-month figures for September are robust, but, in contrast to those recorded 12 months previous, we have witnessed less growth.

“As we now move in to the tail end of the year, where further seasonal adjustments are expected, it will be interesting to see how the market performs in comparison.”

Slowdown in the Property Market Normal for This Time of Year

Published On: August 4, 2016 at 10:50 am

Author: Em Morley

Categories: Property News

Tags: Brexit,homebuyers,housing market,properties for sale,property market

The slowdown in the property market recorded over July is normal for this time of year, according to the latest Property Activity Index from Agency Express.

The recent property market report from the firm found that both new listings and the number of properties sold dropped in July.

Nationally, the number of new property listings fell by 15.3%, while the amount of properties sold was down by 8.8%.

Slowdown in the Property Market Normal for This Time of Year

However, over the past three months, the decline has been less severe, with new listings down by 3.2% and properties sold down by 3.8%.

Looking back over the Property Activity Index’s historical data, a slowdown in the property market in July is not uncommon. As the summer holiday months commence, a seasonal cooling in the market is expected, and this year’s figures appear consistent with those recorded between 2013-15.

Across the country, just four of the 12 regions included in the Property Activity Index bucked the seasonal trend.

The best performing region in July was the West Midlands, which saw a record best rise in new property listings for July, of 5.6%.

The strongest regions for new listings in July included:

West Midlands: +5.6%
East Midlands: +3.1%
North West: -0.5%
Wales: -1.9%

In terms of the number of properties sold, the best performing regions were:

Wales: +3.2%
North West: +0.2%
South East: -3.7%
South West: -3.8%

The greatest declines seen in July’s Property Activity Index were in London. New listings in the capital fell by a huge 49.9%, while the amount of properties sold was down by 19.9%.

With buyers and sellers in London remaining cautious over the effects of Brexit, the rental sector in prime central spots has experienced a boost: /rent-prices-prime-central-london-following-brexit/

The Managing Director of Agency Express, Stephen Watson, says: “Throughout July and August, we traditionally see a decline in the UK property market. This month, the vote to leave the EU did bring an air of uncertainty, but as it stands, figures have remained true to trend.

“However, with the Brexit effect yet to emerge, it will be interesting to see if September’s figures return with the same vigour.”

Check back to Landlord News for the latest property market updates and insight.

Property Market Showed Strength Before EU Referendum

Published On: July 4, 2016 at 8:38 am

Author: Em Morley

Categories: Property News

Tags: Brexit,EU referendum,properties for sale,property market

The property market showed strength ahead of last month’s EU referendum, according to the latest Property Activity Index from Agency Express.

The month-on-month data shows a nationwide increase in both new property listings, at 10.6%, and the number of properties sold, at 2%, over June.

Property Market Showed Strength Before EU Referendum

The growth recorded by Agency Express corresponds to recent figures from Dr. Rebecca Harding, the Chief Economic Advisor at the British Bankers’ Association, who reports: “Mortgage approvals have bounced back following the sharp drop in April, caused by the initial reaction to the Stamp Duty surcharge.”

The Property Activity Index found that gross mortgage lending rose by 10%, or £12 billion, in June compared to the same month last year, while remortgage approvals were up by 18% – the highest level since February 2011.

On a regional basis, Agency Express found that nine of the 12 UK regions recorded increases in both new property listings and properties sold over the past month.

The following regions recorded the greatest growth in new listings:

London – 72.3%
South East – 22.3%
North East – 10.1%
Yorkshire and the Humber – 9.6%

These regions saw the largest rises in the number of properties sold:

West Midlands – 25.9%
East Midlands – 11.8%
South East – 4%

The standout performer of the month was the West Midlands. After a three-month lull reaching -14.5% in May, the number of properties sold bounced back to 25.9% in June – a regional best.

London also made robust monthly increases over June, with new listings standing at 72.3%. Although this wasn’t a record, figures were up by 14.9% on June last year.

The greatest decline in June’s Property Activity Index was recorded in East Anglia. The amount of properties sold fell for a second consecutive month, at -4.2%.

The Managing Director of Agency Express, Stephen Watson, comments: “During June, we expect to see a buoyant property market and this month’s Property Activity Index has shown growth for a large proportion of the UK. However, with the EU referendum only a week ago, the Brexit affect is yet to unfold. Looking forward into the second half of the year, it will be interesting to see how it affects the usual trends of the market.”

While activity remained strong during June, recent figures also show that house prices continued to grow last month.