What’s actually happening in the UK property market? – London Wallet

Last week, the UK Property Market Stats Show (Week 16, ending on 23 April 2023 ) reported that the UK property market returned from the Easter slowdown with the best week for sales since September 2022. Some doom-mongers suggested it was a flash in the pan, yet the UK property market went from strength to strength this week.

Week 17 – week ending 30 April 2023 –  has seen the UK residential property market record an even better week for sales.

There were 37,217 property listings this week (compared to the 33,294 listings weekly average for the last month and 31,831 per week since the start of Jan 2023), which is the highest weekly figure on listings since March 2021.

There were 20,329 price changes this week (compared to the 18,338 price changes weekly average for the last month, and 17,643 per week since the start of Jan 2023). This is the highest weekly figure on price changes since 2018.

Some 26,237 gross sales were his week (compared to the 22,910 gross sales weekly average for the last month and 21,654 per week since the start of Jan 2023). This is the highest weekly figure on gross sales since July 2022.

No fewer than 5,315 fall thrus were logged this week (compared to the 4,928 fall thrus weekly average for the last month and 4,960 per week since the start of Jan 2023). High, but look at the percentages below.

There were 20,922 net sales this week (compared to the 17,982 net sales weekly average for the last month and 16,694 per week since the start of Jan 2023). This represents the highest weekly figure on net sales since June 2022.

Looking at the percentage of weekly sales fall thru rate, 20.26% was recorded this week (compared to the 21.6% weekly average for the last month and 24.1% per week since the start of Jan 2023). This is the lowest weekly figure on percentage fall thrus since April 2022.

On the show, this week’s special guest is Kristian Stott (ex-big in the game Estate Agency boss from Worcestershire and now a Big Cheese at I-AM-Sold). He and Chris Watkin look at the national and regional figures.

Then, in the last 15/20 mins of the show, there is a special focus on the Kingston-upon-Thames property market, comparing market share and the effectiveness of all the Kingston-upon-Thames agents.