Sales hold up ahead of Christmas slowdown
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The UK housing market is proving resilient despite the imminent Christmas slowdown, according to data from Agency Express.
The latest Property Activity Index from the ‘for sale’ board contractor shows that although the number of properties sold fell by 8.3% in November, the monthly fall is not as steep as it has been in previous years.
At the same time last year sales fell by 23.9%, while in November 2007 sales dropped by 20.5%.
Current levels of house sales are up 66% on a year-on-year basis.
Yet despite an overall monthly fall in the number of houses for sale, Scotland saw a 7.9% increase in properties for sale while Yorkshire recorded a 2.4% rise.
Stephen Watson, managing director of Agency Express, says: “We usually expect to see a considerable and universal decrease in UK property sales in November compared to October as the festive season approaches, but this year we are seeing significant signs that the market is fighting back.
“The decrease in November was less than expected especially when you consider that October was a particularly buoyant month.
“But with the overall level of sales 66% up on this time last year we can look forward to more encouraging news in the New Year.”
