UK Property Market Report for the week ending Sunday 1st Sept 2024
House prices Of the 89k UK house in August MTD, the Sale Agreed £/sq.ft remained at £341/sq.ft. Identical to July ’24 and 2.72% higher than those achieved 12 months ago.
Listings - 29.2k UK listings this week (week 35), 16.1% lower than last week (week 34). Yet, 7.6% higher 2024 YTD than 2017/18/19 YTD average & 9.2% higher than Week 35 of 2023.
Total Gross Sales - 21.5k UK homes sold stc this week (Week 35), which is 15.1% lower than last week. Yet, its 26% higher than the same week (week 35) in 2023. Also, 6.9% higher than 2017/18/19 YTD levels & 12.5% higher than 2023 YTD levels.
Net Sales - 16.1k this week, 32% higher than the same week in 2023 & still 15.1% higher YTD in 2024 compared to YTD 2023.
Sale fall-thru rate - Sale Fall Thrus (as a % of Gross sales Agreed) dropped to 25.1% this week. The 7 year Long Term Average is 24.2% and it was 40%+ in the two months following the Truss Budget in the Autumn of 2022.
