This week’s ‘UK Property Market Stats Show’ features special guest Iain White to talk about what is happening in the UK property market.
The headlines for the week ending Sunday, 18th August 2024, are as follows:
+ Listings – 34k UK listings this week. 7.2% higher YTD than 2017/18/19 YTD average & 7.4% higher than Week 33 of 2023.
+ Total Gross Sales – 24.9k – 22% higher than the same week (week 33) in 2023. Also, 6.8% higher than 2017/18/19 YTD levels & 11.9% higher than 2023 YTD levels.
+ Net Sales – 18.5k this week, 28% higher than the same week in 2023 & 11.9% higher YTD in 2024 compared to YTD 2023.
+ Percentage of Homes exchanging vs homes unsold – YTD 2024, 52.77% of homes that left UK Estate Agents books exchanged contracts, the remaining 47.23% were withdrawn off the market, unsold. In essence you a flip of the coin chance of actually selling, homeowners moving and the estate agent getting paid. Overvaluing discussed at length in the YouTube Stats Show
+ UK House Prices – Sale Agreed £/sq.ft in July 2024 are 2.6% higher than those achieved in January 2024.
Sale Fall-Throughs – sale fall throughs (as a % of gross sales agreed) dropped to 25.5% this week. The seven-year long-term average is 24.2% and it was 40%+ in the two months following the Truss Budget in the Autumn of 2022.
