Some homebuyers and sellers appear undeterred by the doom mongers and soothsayers predicting a property market crash based on the latest property figures.
In this week’s ‘UK Property Market Stats Show’, Chris ‘property market stato’ Watkin is joined by special guest Ben Madden, a London-based estate agent.
In the show they discuss what happened in the UK property market in recent days (week ending Sunday
23rd July) with regard to demand and supply metrics of the UK – and regional.
Among the data analysed, there appears to be early signs that nominal UK house prices are beginning to rise using some very intriguing cutting edge data.
The key statistics of the UK Property Market for the week (Monday 17th July to Sunday 23rd July 2023 inclusive):
+ New properties to the market (Listings): 33,096 for the week. The 2023 running weekly average is 32,967.
+ Average Listing price: £421,579. The 2023 running weekly average is £433,862.
+ Price reductions: 23,926. The 2023 running weekly average is 19,292.
+ Average asking price of properties being reduced: £405,596. The 2023 running weekly average is £407,550.
+ Number of properties Sold (Gross Sales): 21,706. The 2023 running weekly average is 22,282.
+ Average asking price of those properties that Sold STC this week: £355,430. The 2023 running weekly average is £359,615.
+ Sale fall throughs: 6,471. The 2023 running weekly average is 5,316.
+ Sale fall through rate: The number sales fall throughs expressed as a percentage of this week’s gross sales: 29.81% The 2023 running weekly average is 24.57%. (ie this week .. the number of sale fall thrus was 6,471 and the number sale agreed was 21,706. So, 6,471 expressed as a percentage of 21,706 is 29.81%)
+ Net Sales this week (Fall Throughs from pipeline expressed as % of gross sales in the week): 15,235. The 2023 running weekly average is 16,966.
+ Year to date Net Sales – 492,008 – compared to 604k in 2022, 701k in 2021, 411k in 2020, 540k in 2019, 543k in 2018 and 511k in 2017
At the end of the show, they compared and contrasted the different estate agents in Preston to see who was the best performing agent.
