UK Housing Market Barely Unchanged on Easter

May 04, 2011 / Russell Legato, Residential Property Analyst

The UK housing market barely moved last month, based on the number of For Sale and Sold boards and on Nationwide’s report this morning, May 4, 2011.

UK Housing Market Barely Unchanged on Easter

Estate agency sign company Agency Express said that the number of For Sale boards that turn into Sold boards declined to 3.6 percent last March whereas the number of For Sale boards going up dropped by 0.5 percent.

The decrease followed two consecutive monthly rises in the number of sold houses but Agency Express said that monthly sales were still up by 1.7 percent on April last year, which was 11.5 percent higher than the April 2009 figure.

Five areas experienced a sale increase: Wales by 6.5 percent, South-East by 5.2 percent, South-West by 5.1 percent, East Anglia by 3.4 percent and West Midlands by 0.8 percent.

On the other hand, two regions went through significant declines: Yorkshire by -22.5 percent and Nort-West by -40.9 percent.

Agency Express Managing Director and former real estate agent Stephen Watson believes that the slowdown in activity was most likely affected by the close celebrations of Easter holidays, bank holidays and the Royal Wedding because the people put their plans on hold during the said dates.

He added that it was encouraging to know that the activity levels this year are still higher than in April 2009 and 2010.

Watson also said that the decrease in sales is not unusual.

Specifically, three cities experienced double digit raises in month house sales with Cambridge topping the list at 26.3 percent and Exeter following at 25.5 percent and Birmingham at 25.4 percent.

Articles other readers have found interesting...

Top News Stories:

Leave a Reply