There was a significant decline in the volume of homes for sale and residential properties sold in July, based on the latest Property Activity Index provided by Agency Express.
The figures reveal that the number of listings ‘For Sale’ in July fell by 15.3%, while the volume of properties ‘Sold’ dropped 8.8% compared with the same month a year earlier. But over a three month rolling period the index has highlighted less of a decline, with new listings ‘For Sale’ falling by just 3.2% and properties ‘Sold’ by 3.8%.
Historical data from Agency Express shows that a decline in data during July is not uncommon, as part of a wider summer lull.
Across the country only four of the 12 regions recorded by the Property Activity Index bucked the seasonal trend. This month’s most prominent performing region was the West Midlands, which recorded an annual increase of 5.6% for July.
New listings ‘For Sale’
West Midlands +5.60%
East Midlands +3.10%
North West -0.50%
North West +0.20%
South East -3.70%
South West -3.80%
The largest declines recorded in July’s Property Activity Index were made in London, where new listings fell by 49.9% and properties ‘Sold’ dropped 19.9%.