The latest data from Agency Express has revealed a slowdown across the UK property market in April.
According to its Property Activity Index, national month-on-month figures for new listings ‘for sale’ fell at -4.6%, as did figures for properties ‘sold’ at -6.7%.
The data showed more stability over a three-month rolling period, however, with new listings at 2.9% and properties ‘sold’ at 7.8%.
On a regional basis, all UK areas barring two reported declines in both new listing ‘for sale’ and properties ‘sold’.
The West Midlands was the top performer in April, with a marginal increase in new listings at 0.1% and properties ‘sold’ at 6.6%. While the increases were small, they marked the region’s first rise in activity for the month since 2016.
The South East also saw an increase in new listings ‘for sale’ at 1%. Activity has declined compared to 12 months ago, though, where figures sat at 6.3%.
At the other end of the scale, the largest declines were recorded in the North East. Month-on-month statistics for new listings ‘for sale’ fell to -14.1%, while figures for properties ‘sold’ fell further at -32.2%. Agency Express noted that year-on-year figures for new listings remained on trend here but numbers for properties ‘sold’ have declined.
Stephen Watson, managing director of Agency Express, commented: “It is not uncommon for us to see a seasonal dip in activity throughout April, but this year’s data shows a greater month-on-month decline compared to 12 months previous.”
“Based on the trends of the last two years we would now expect a pickup in activity during May and a further increase in June. As we move into these months, it will be interesting for us to see how the year-on-year comparisons fair,” he concluded.