North-West Best Performing Region At 5.9% - 2% ABOVE THE UK AVERAGE!
UK Property Market Report for the week ending Sunday 10th Nov 2024
House prices - The £/sqft figure foretells and predicts the Land Registry 5 months in advance with an accuracy rating of 92%. Final October figures saw a slight jump in this important metric to £346/sq.ft. For comparison - Sept’s £339/sq.ft, August’s £338/sq.ft, and July at £341/sq.ft. This means house prices are slightly growing.
New Listings - 29.5k UK listings this week (week 45), an unexpected increase of 0.9k listings from last week. YTD 2024, listings are 11% higher compared to 2023 YTD.
Total Gross Sales - 24k UK homes sold stc this week (Week 45), identical to last week. 17.6% higher than the same standalone week (week 46) in 2023. Also, 8.2% higher than 2017/18/19 YTD levels & 14.9% higher than 2023 YTD levels.
Net Sales - 17k this week (17.8k last week). 13% higher than the same week 45 in 2023, 69% higher than the same week 45 in 2022 & still 17.3% higher YTD in 2024 compared to YTD 2023.
Sale fall-thru rate - For the week 45, Sale Fall Thrus (as a % of Gross sales Agreed) increased to 28.7% (up from 26% last week). This slight uplift is probably down to an additional 600 sales fall thru because f the stamp duty changes. The 7 year Long Term weekly Average is 24.2% and it was 40%+ in the two months following the Truss Budget in the Autumn of 2022. Agents lost 5.8% of their sales pipeline in Oct’24 (up from 5.6% in Sept ‘ 24).
