What’s at the moment taking place within the UK property market? – Tech Journal

That is the primary ‘UK Property Market Stats Present’ of 2025. It displays on the week ending Sunday, twelfth January 2025.

I’m joined by this week’s particular visitor, Ben Madden, an property agent from West London to debate the property market headlines for Week 1 of 2025.

It have to be pressured that is the primary week of the 12 months, and since the primary full week began later than different years (on the sixth January 2025), among the figures, when in comparison with earlier years, are significantly larger than different years. This may calm down as the remainder of January opens out.

The principle headlines this week although:

· Listings (New properties approaching to the market) – 27.4k UK listings this week (week 1). 34% larger YTD than 2024 YTD. 35.6% larger YTD than 17/18/19 YTD

· % of Resi Gross sales Inventory being decreased (Month-to-month): 7.8% of Resi gross sales inventory was decreased in December (this stat is month-to-month in arrears). 11.1% in November.  11.9% & 2024 common and long run 5 12 months common 10.6%. NB We at all times get a dip of this stat in December

· Whole Gross Sales – 19.2k UK houses offered stc this week (Week 1).  74% larger than the identical standalone week (week 1) in 2024. Additionally, 11.2% larger than 2017/18/19 YTD ranges.

· Sale Through charge (Month-to-month): UK Property Brokers offered 10.61% of their Resi gross sales inventory in Dec ’24 (Dec ’23 – 8.79%). 2024 common is 15.3% & the 7 12 months long run common is 17.9% monthly.

· Sale fall-throughs – Brokers misplaced 3.8% of their gross sales pipeline for the month of December (2024 common 5.36%). For the week 1, Sale Fall Thrus (as a % of Product sales Agreed) elevated to 33.0% (up from 25.7% from the final two months of 2024). That is regular with a glut of sale fall thrus popping out the Christmas & New 12 months break. The 7 12 months Lengthy Time period weekly Common is 24.2% and it was 40%+ within the two months following the Truss Finances within the Autumn of 2022.

· Internet Gross sales – 12.9k this week (common for week usually 7.7k). 88.9% larger than the identical week 1 in 2024,  99.4% larger YTD in 2024 in comparison with YTD 17/18/19.

· Resi Gross sales Inventory on the Market (Month-to-month Stat) : 605k at finish of December (down from 677k at finish of Nov). For comparability, Dec ’23 – 560k, Dec ’22 – 481k,  Dec ’21 – 342k, Dec ’20 – 543k, Dec ’19 – 545k.

· Resi Gross sales Bought STC Pipeline (Items) (Month-to-month Stat): 441k at finish of December. For comparability, Dec ’23 – 359k, Dec ’22 – 373k,  Dec ’21 – 468k, Dec ’20 – 548k, Dec ’19 – 310k.

· UK Home Costs – As defined within the present, the £/sqft determine foretells and predicts the Land Registry 5 months upfront with an accuracy ranking of 92%. Last December  figures noticed a slight drift on this essential metric to £339/sq.ft. For comparability – Nov’s £342/sq.ft, August’s £334/sq.ft, and Dec ’23 at £322/sq.ft. This implies home costs have grown 5.28% within the final 12 months.

Common rents within the UK.

East Anglia: 2024 Common £1,387, Progress since 2016: 29.9%

East Midlands: 2024 Common £1,065, Progress since 2016: 45.5%

Inside London: 2024 Common £3,141, Progress since 2016: 26.0%

North East: 2024 Common £985, Progress since 2016: 29.9%

North West: 2024 Common £1,141, Progress since 2016: 42.1%

Northern Eire: 2024 Common £927, Progress since 2016: 36.1%

Outer London: 2024 Common £1,943, Progress since 2016: 22.0%

Scotland: 2024 Common £1,116, Progress since 2016: 46.8%

South East: 2024 Common £1,796, Progress since 2016: 40.0%

South West: 2024 Common £1,629, Progress since 2016: 78.4%

Wales: 2024 Common £1,137, Progress since 2016: 50.4%

West Midlands: 2024 Common £1,125, Progress since 2016: 39.2%

Yorkshire & Humberside: 2024 Common £1,058, Progress since 2016: 39.8%

Native Focus this week – Bathtub

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