What is the property market doing and is it on the turn?

Month Average New Applicants Average New Instructions Average New Viewings Average New Offers Average Exchanges
May 16 74 11 114 16 3.9
Apr 16 91 11 132 18 3.89
Mar 16 85 12 123 17 6.76
Feb 16 90 12 133 19 4.17
Jan 16 100 9 132 17 4.06
Dec 15 47 6 65 10 5.19
Nov 15 70 8 104 15 5.29
Oct 15 80 10 121 17 5.58
Sep 15 89 10 117 19 5.6
Aug 15 90 10 108 19 5.79
Jul 15 92 12 114 22 6.28
Jun 15 95 12 117 22 5.34
May 15 91 11 115 21 5.16
Apr 15 101 12 109 21 4.15
Mar 15 103 12 119 24 9.39
Feb 15 95 11 113 20 3.14
Jan 15 109 11 114 17 3.35
Dec 14 48 4 51 10 3.92

 

What is the market doing? And what will it be doing in the coming months?

The information above tracks the market back to December 2014, month by month, and comes to us from software provider Expert Agent.

It covers a total of 2,143 branches out of the firm’s 2,576 branches that it supplies. The ones filtered out are those that do lettings only, or have very small sales operations. All the branches are part of independent businesses.

While too early to predict any firm trend, the May figures do show a falling off of interest and viewings  compared with the earlier months of this year, while exchanges in both April and May were very low compared with March. Noticeably, however, new instructions have held up well.

We will repeat the exercise again next month, and are grateful to Expert Agent for their help.

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5 Comments

  1. bren_gun

    Suffering from short term memory loss? March exchanges were at record levels because of the forthcoming SDLT levy. Its disingenuous to subsequently claim that April & May were comparatively low. Nonsense.

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    1. mrharvey

      They are comparatively low compared to pretty much every month in the previous 12 months, too, BrenGun.

      What interests me is the number of instructions has stayed pretty steady since last January – people still want to buy property independently of the market – good on the Brits for maintaining their efforts!

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  2. theunsaid63

    I believe,personally, that the market will level off over the next 6-8 weeks then we will see more price reductions as the reality kicks in with us EA’s that less is selling then hopefully we will see even the most unrealistic, optimistic and the foolhardy EA’s start pricing accordingly and perhaps then we will see some realignment of property prices rather than a stampede to get sold before the “gossiped of” crash

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  3. smile please

    If i were a customer of expert agent, not sure i would like my data collected and used in this way …

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  4. Emmersons46

    If it helps, we are getting more and more instructions.

    Whilst the Government has imposed austerity on public services and reduced spending people who are in a job obviously feel secure and therefore, along with low interest rates and the variety of assistance to buy schemes, are able to purchase property.

    Austerity does not mean that people in work aren’t feeling confident or that businesses aren’t growing and therefore more people being employed and staying employed.

     

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