A source of checking the current market conditions for supply and demand rather than looking back at what’s happened to property prices, is finding out how much stock is on the market. When there are more buyers than sellers, prices tend to rise and fall when vice versa.
The average property stock per branch data (see chart below) from Rightmove for October 2013 through to October 2014, has seen slight rises since January 2014, but stock has then dropped back from July through to October. On average the average number of properties for sale per agent is 60 versus 67 last year.
The NAEA average property stock figures per branch for October 2014 reached 53, so lower than Rightmove’s figure and suggests stock is on a par with this time last year. Importantly, according to the NAEA, average sales of properties per branch have varied between 8 and 10 since the start of 2014, and with the exception of December 2013, when the number of sales dropped to 6, there has been very little change in the number of properties sold.
For Sale and Sold Board Analysis
The latest quarterly data revealed by the Agency Express Property Activity Index, monitors the number of ‘for sale’ and ‘sold’ boards put up on behalf of agents. It shows the number of new properties coming to the market nationally between September and November 2014 was down -6.5% compared to the same period in 2013. The number of new ‘sold’ boards erected during the period September and November 2014, was also -3.1% down on the same three months versus 2013.
“This suggests the market activity is slowing with less properties coming onto the market and once up for sale, less properties being sold. To some extent this slowdown is usual at this time of year and it was really the back end of 2013 where we saw more activity than normal as the market across the UK started to pick up and really took of in areas such as London.“
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