Property market activity increased across most parts of the UK in September following an unexpected spike in August.
However, activity is down compared to a year ago, particularly in Wales and Scotland, according to the latest data from Agency Express.
The figures show that overall new listings increased by 3.5% and property sales were up 2.8% in Septembers, but this is down compared to 4.5% and 6.9% in the same month in 2015.
Some eight of the 12 regions covered by the index reported increases in listings and sales, led by the North East with listing up by 38.3% and sales up by 18.3%. London followed suit with new listings up 19.9%, however over a three month rolling period figures for the capital were down at 26%.
Other regions have seen more modest growth. Sales were up by 9% in Central England, by 8.4% in the South East, by 8.2% in the West Midlands and by 8.2% in the East Midlands. Listings increased by 9.1% in the South East, by 6.4% in the West Midlands and by 5.6% in Central England.
The largest declines were in Scotland and Wales. New listings in Scotland were down 3.6% and sales down 5.4%, marking the region’s largest decline for September since the Property Activity Index’s first records in 2012.
In Wales new listings fell for a fifth consecutive month with a decline of 10.1% and sales set a record low with a fall of 3.9%. However with news of increased mortgage lending and a rise in consumer confidence our outlook for the Welsh property market remains positive, according Stephen Watson, managing director of Agency Express.
‘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,’ he said.
