News

The latest results from July's Agency Express Property Activity Index shows that sales activity is cooling down reflecting the traditionally slower summer holiday season. The Index, based on the volume and activity status of ‘For Sale’ and ‘Sold’ boards across the UK, reveals that the number of ‘Sold’ signs instructed by estate agents in July fell by 6.1% compared to June. However, there is still an upward trend in sales. The 3-month rolling average to the end of July increased by 4.3% on the 3-month period ending in June. And, compared to December – the lowest month on record - the number of sold signs erected in July was up 150%.

Only three regions experienced a monthly increase in the number of properties sold in July - the South West was up 21.3% on June, London was up 20.0% and the East Midlands was up 3.6%. Interestingly, whilst London experienced the second largest increase in sales, the surrounding South East region saw the largest monthly decline at 14.4%.

Unsurprisingly, the number of For Sale boards that were erected in July was 8.8% down on June, explained by many people’s reluctance to put their houses on the market before they go on their summer holidays. But, as with the number of properties sold, the underlying trend is still upwards as the 3-month rolling average to end July showed a 3.8% increase on the 3-month period ending in June.

Further results from July show that:

• London was the only region to see an increase (3.0%) in the number of For Sale boards being erected. The three regions experiencing the biggest falls in sales were Central England that was down 15.3%, Scotland down 15.9% and the South East down 17.7%.
• London, the North West and Yorkshire have been the property hot spots so far this year having experienced the greatest increases in properties sold and put up for sale.

The regions showing the best month on month performance in the number of ‘For Sale’ boards being put up are London up 3.0%, the South West down 0.2% and Yorkshire down 0.4%. The regions with the poorest monthly performances in the erection of For Sale boards were Central England down 11.6%, the West Midlands down 11.7% and the South East down 14.4%.

Commenting on these result, Stephen Watson, Managing Director, Agency Express, said: “Having moved into the summer holiday season, the downturn in the number of properties sold and those being put up For Sale is to be expected. This is consistent with previous years. The fact that June was a particularly bullish month only makes July's cooling down appear more marked and we expect to see a further decrease in activity in August. However, the trend continues to be upwards and we have seen a vast improvement in activity since December.”

Hot spots for ‘Sold’ boards

The three regions that have seen the greatest monthly increases in the number of boards moving to ‘Sold’ in July are:

Not-so-hot spots for ‘Sold’ boards

The three regions that have seen the greatest monthly decreases in the number of boards moving to ‘Sold’ in July are:

Hot spots for new listing ‘For Sale’ boards

The three regions that have seen the greatest monthly increases in the number of ‘For Sale’ boards being erected in July are:

Not-so-hot spots for new listing ‘For Sale’ boards

The three regions that have seen the greatest monthly decreases in the number of ‘For Sale’ boards being erected in July are:

For further information or to arrange an interview please contact:

Rob Davies on 01603 305822 or 07709 366310 or rob@kiss-marketing.co.uk
Denice Currie on 01603 305811 or denice@kiss-marketing.co.uk

Editor’s notes:

*Month-on-month percentage changes 2009