What is actually happening in the UK housing market? – London Wallet

The UK property market has just had its best week for house sales since the week before mini budget in September 2022, according to the latest figures.

For the week ending this Sunday (26th March 2023), 23,897 homes were sold subject to contract (STC).

The average number of properties sold STC in the last four weeks has been 23,531 per week.

Fall throughs remained very low at 4,897 last week (the previous 7-week average is 4,887 sale fall throughs). This represents a fall through rate this week of 20.49% (i.e. this week’s fall-throughs of 4,897 as a percentage of the 23,897 house sales).

For comparison, the average for Q1 2023 has been 25.25%, the average for Q4 2022 was 38.7% and long-term 7-year weekly average is 24.26%.

Listings remain strong at 33,902 for the week (Q1 2023 weekly average at 31,116 per week).

This week’s special guest is Richard Durrant from Relocation Agency Network (RAN) as he joins Chris Watkin (Property Stato) to look, analyse and comment on some exciting property stats, numbers and graphs which reflect the latest trends in the housing market.

In the last 15 mins of the show, there is a focus on the Ipswich property market, comparing market share and the effectiveness of all the Ipswich Agents.