In this week’s UK Property Market Stats Show, Yopa’s Verona Frankish and I look at the stats for week ending Sunday 1st December 2024 (week 48).
The main headlines can be viewed below.
· Listings (New properties coming on to the market) – 24.6 UK listings this week (week 48), an expected drop of 2.6k from last week. 8.4% higher 2024 YTD than 2023 YTD.
· Percentage of Resi Sales Stock being reduced (Monthly): 13% of Resi sales stock was reduced in the last month. 14% last month and long term 5 year average 10.6%.
· Total Gross Sales – 22.8k UK homes sold stc this week (Week 48), 4% lower than last week. 20% higher than the same standalone week (week 48) in 2023. Also, 8.8% higher than 2017/18/19 YTD levels & 15.2% higher than 2023 YTD levels.
· Sale Thru rate (Monthly): UK Estate Agents sold 16.11% of their Resi sales stock last month. 2024 average is 15.86% & the seven-year long term average is 17.9% per month – yet don’t forget that was only in mid/late 20%’s in the crazy years of 20/21/22).
· Sale fall-throughs – For the week 48, Sale Fall Thrus (as a % of Gross sales Agreed) decreased 23.8%). The 7 year Long Term weekly Average is 24.8% and it was 40%+ in the two months following the Truss Budget in the Autumn of 2022.
· Net Sales – 17.4k this week (average for last 4 weeks 17.6k). 20% higher than the same week 48 in 2023, 66% higher than the same week 48 in 2022 & still 17.4% higher YTD in 2024 compared to YTD 2023.
· Percentage of homes exchanging Vs homes unsold – Of the 1,438,852 UK homes that left UK Estate Agents books since the 1st Jan 2024, 772,292 of them (53.67%) exchanged & completed contracts (meaning the homeowner moved and the estate agent got paid). The remaining 666,560 (46.33%) were withdrawn off the market, unsold.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.
Local Property Market Focus – this week it is Winchester
