The UK housing market is continuing to hold up as it eases into recovery. Whilst December’s monthly house sales experienced the usual seasonal decrease, dropping 33.2% on November’s figure, overall sales are up 45.6% on December 2008.
This is according to the latest Agency Express Property Activity Index, which compiles its data from the number of ‘For Sale’ signs in circulation.
It was the eighth month running that 2009 monthly house sales exceeded the corresponding monthly sales in 2008, providing robust evidence that the UK housing market is regaining its buoyancy. Further encouragement is offered by the fact that December’s house sales were down only 14.4% on December 2007’s level.
All UK regions saw a significant fall in monthly house sales in December but again there was some encouraging news here as seven regions – Central England, East Anglia, North West, North East, Wales, West Midlands and Yorkshire – had their best December for two years.
Surprisingly, three UK cities bucked the seasonal trend and saw a rise the number of house sales achieved in December. Leicester led the way with an 11.8% increase, Exeter had a 6.2% uplift and Manchester saw sales rise 4.1%. The biggest losers were Oxford down 60.3%, Cardiff down 53.6% and Bristol down 50.0%.
The number of ‘For Sale’ signs that were erected in the UK decreased in December by 46.3% but Leicester again confounded the trend by seeing an uplift of 15.4% in the number of properties that were put on the market in December.
Stephen Watson, managing director, Agency Express, said: “To see house sales drop off in the run up to the festive season was no surprise at all but the fact that since May 2009 monthly sales have been greater than the corresponding months in 2008 shows that there is a real basis of optimism for 2010. Whilst all regions saw sales decline
