There was a spike in property market activity in May after the usual seasonal slowdown in April, according to Agency Express’s Property Market Activity Index.
The firm’s latest data found that national month on month figures for new listings stood at 15.4% in May, while the number of sold properties went up to 8.1%.
From browsing the index’s archives, it becomes clear that 2018’s figures are actually more robust than those witnessed in the same period of 2017.
All twelve regions recorded by the Property Activity Index reported rises in new listings ‘For Sale’, while ten reported growth in properties ‘Sold’, highlighting that the heating up of the property market is happening across the UK.
May’s top performer was the West Midlands, which saw growth in both new listings (at 19.5%) and properties ‘sold’ (at 21.9%). This booming growth marked a record month for the region.
Elsewhere, record figures were also seen in East Anglia, with new listings ‘For Sale’ reaching 27.3%. Other regional hotspots for new listings included the North East, Wales, Central England, London and the East Midlands, while for properties ‘sold’ Wales, London, Central England, East Anglia and Scotland all performed strongly.
The only falls in May’s index were seen in the South East and the North West, with the figures for properties ‘sold’ falling for the first time this year in the South East, while figures in the North West declined for the second successive month.
“Throughout May we typically see a slower pace across the UK property market, so this month’s figures have exceeded our expectations,” Stephen Watson, Managing Director of Agency Express, commented.
“Moving in to June, activity is thus far on trend and we remain optimistic for a buoyant summer.”