UK property market activity slowed in November, but much less than a year ago
New listings for UK properties fell by 4.7% in November but the figures is much higher than the fall of 12% recorded in activity in the same month in 2015.
The activity index from Agency Express also shows that the number of properties sold fell by 1.8% but again this is less than the fall of 14.7% recorded a year ago.
The firm says that activity normally falls at this time of the year and the figures show that the UK property market has not seen this level of activity for November since 2013.
The trend was evident in 11 of the 12 regions covered by the index with East Anglia emerging as the top performer overall with new listings up 0.4% and properties sold up 2.4%, marking a record best November for the region.
Other regions to buck the seasonal trend included the North East which saw the number of properties sold up by 24.3% while in Scotland sales were up 6.95. New listings increased by 11.3% in central England, by 5.9% in the South East and by 0.6% in London.
But in Wales new listings were down by 14.8% and sales down by 3.2% although the decline in figures for properties sold was far less than the fall of 11.8% recorded in November 2015.
‘November was a surprisingly buoyant month. Month on month figures have reported positively across the nation and year on year activity has also increased. It will be interesting to see if the change in trend will have a positive effect on the forth coming weeks where we traditionally witness a slowdown in the property market until January,’ said Stephen Watson, managing director of Agency Express.