News

The latest Agency Express Property Activity Index shows that the UK housing market is displaying signs of real resilience with November’s house sales up 66% on November 2008. Although the number of properties ‘Sold’ in the UK fell by 8.3% in November compared to October, this figure was a much shallower fall than the previous two years which saw falls in sales in November of 23.9% in 2008 and 20.5% in 2007.

Two regions completely bucked the trend by experiencing an increase in houses ‘Sold’ in November. Scotland saw a 7.9% increase and Yorkshire witnessed a 2.4% uplift. And there were above average performances in the North East which fell by only 1.0% and Wales where sales were down just 2.6%.

The were also six cities that experienced increases in monthly sales in November led by Edinburgh with an 11.4% uplift, Oxford at 11.0%, Leeds at 10.9%, Norwich at 10.8%, York at 7.9% and Glasgow at 6.3%.

Commenting on the latest Index results, Stephen Watson, Managing Director, Agency Express, said: “We usually expect to see a considerable and universal decrease in UK property sales in November compared to October as the festive season approaches, but this year we are seeing significant signs that the market is fighting back. The decrease in November was less than expected especially when you consider that October was a particularly buoyant month. The picture across the UK is fragmented with a number of geographical areas showing an increase in sales and a number showing quite considerable decreases. But with the overall level of sales 66% up on this time last year and a more positive trend, we can look forward to more encouraging news in the New Year.”

Signs that confidence is returning to the market is also evidenced by the number of new properties that were put up ‘For Sale’ which followed a similar trend to that seen with properties ‘Sold’. Although the number of boards erected in November was down 9.0% this was again far less than in previous years - and compared to November 2008, the number of properties that were put up ‘For Sale’ was up 31.3%.

Two regions experienced increases in the number of properties put up ‘For Sale’. The West Midlands saw a 7.1% uplift with the North East having an increase of 1.4%. Five cities saw the number of properties put up ‘For Sale’ increase in November – Coventry at 24.0%, Colchester at 10.4%, Southampton at 4.4%, Newcastle at 3.31% and Leeds at 2.7%.

For further information or to arrange an interview please contact:
Rob Davies on 01603 305822 or 07709 366310 or rob@oooc.co.uk
Carl West on 01603 305811 or carl@kiss-marketing.co.uk

Month-on-month percentage changes 2009

Agency Express was formed in 1998 specifically to provide a nationwide 'For Sale' board erection and management service for corporate and independent estate agencies via a network of franchisees. Today, Agency Express is the UK's largest 'For Sale' board company with one in four boards being erected and serviced by our franchisees.

'For Sale' boards can be seen on virtually every street in the UK and every one of these boards needs to be erected, changed to display 'Sold' and, finally, be removed at a time agreed with the agency when the sale has been completed. In short, a multi million pound business, the results of which give a very visible indication of the condition of the UK residential property market.

• The UK’s only truly nationwide estate agency ‘For Sale’ board company
• 18 out of the top 20 estate agency chains use Agency Express
• On-line management system provides estate agencies with total control over their board assets
• Full members of the British Franchise Association
• Carrying out up to 4,000 board movements every working day