Significant rise in residential property activity

Meanwhile new "for sale" listings also rose by 13.3% compared to March – the fourth consecutive monthly increase.

Given a longer-term perspective, new "for sale" listings during April were the highest since May of last year and the second highest since August 2010, while "sold" properties achieved the highest monthly volume since February 2010.

Of the 12 UK regions covered within the Index, 10 saw month-on-month increases in new listings during April, compared to March, whilet 11 regions saw increases in properties sold. For both categories, figures were also reassuringly positive when comparing performances for April with those of April last year.
Specific high-flying regions for new listings were Wales (up 17%), the South West (up 18.9%), Scotland (up 25.8%) and the South East (up 33.4%).

For sold properties, the best regional performers in April followed similar lines with the South East (up 19.4%), Scotland (up 20.5%), the South West (up 29%) and Wales (up 85.4%).

Monthly comparisons of new "for sale" listings for individual towns and cities in April, saw the nation’s hot-spots as Cardiff (up 32.2%), Glasgow (up 33.4%), Cambridge (up 37.1%) and Exeter (up 43.7%).

Market leaders in terms of sold properties were Norwich (up 50.7%), Carlisle (up 55.2%), Cambridge (up 62.3%) and Newcastle (up 67.9%).

Agency Express Managing Director Stephen Watson said: "Despite concerns over the impact from the ending of the Stamp Duty ‘holiday’ for first-time buyers and the Government’s ‘double-dip’ recession figures announced last week, the UK housing market remains in good health.

"Our Property Activity Index offers a different view on the market place compared to other indices… it’s a barometer as to what is happening or is likely to happen in the near future, so with the monthly volume of board movements hitting their highest levels in over two years and consecutive month on month growth since the new year, I am optimistic that we will continue to see strong performances throughout 2012."

Have your say on this story using the comment section below

0 thoughts on “Significant rise in residential property activity

  1. Ed

    Amazing the way they try to put a positive spin on this. It may well be that the rise in properties for sale is because ‘the UK housing market remains in good health’, or it may just as well be because people are finally reaching their limits and being forced to sell because of the worsening economic situation.

    Personally I can’t help but think scenario 2 is more likely.