What’s Happening To House Prices, Transactions And Listings?

Chris Watkin’s special guest this week on the UK Property Market Stats Show is Bryan Mansell, ex Countrywide London & South of England director and existing boss of Gazeal.

Unlike the Land Registry, Halifa and Nationwide indexes, which is already three to eight months out of date, this show focusses on real time property market stats from last week (Week ending Sunday, 14th May 2023).

The idea is to provide estate agents – and anybody else with an interest in property – with information regarding what is happening in the housing market – both nationally and regionally.

Summary of this week’s data:

Listings: 30,773 (down 3.1% from last week listings). The 2023 running weekly average is 31,770.

Average listing price: £456,800. The 2023 running weekly average is £428,300

Price reductions: 18,28, up 4.6% from last week price reductions. The 2023 running weekly average is 17,668.

Average asking price of properties being reduced: £406,700. The 2023 running weekly average is £402,000.

Gross sales: 20,934, down 6.4% from last week’s gross sales). The 2023 running weekly average is 21,653.

Average asking price of properties Sold stc: £368,400. The 2023 running weekly average is £355,250.

Important heads up: The average listing price stood at 456,000. Yet, average sales price was £368,000 – that is a 23.9% gap.

Fall throughs: 4,506, down 4.6 % from last week sale fall throughs. The 2023 running weekly average is 4,924.

Percentage of sales fall throughs to gross sales: 21.52% The 2023 running weekly average is 23.81%.

Regional stats for all these metrics are shown in the Show, while during the final 15 minutes of the programme, there is a specific focus on a particular location – this time its on Blackpool.