Half term and the Bank Holiday hit the UK Residential Property Market last week with both property sales and listings falling week-on-week.
Chris Watkin’s special guest this week on the ‘UK Property Market Stats Show’ is Kristian Stott.
Unlike the Land Registry, Halifax and Nationwide indexes, which are already three to eight months out of date, this show focuses on real time property market stats from last week (Monday 29th May to Sunday 4th June 2023 inclusive).
In the last 15 minutes of the show there is a particular look at the Durham property market.
Summary of the headlines:
+ Listings: 30,156, down 20.5% from last week. The 2023 running weekly average is 32,227.
+ Average listing price: £444,300. The 2023 running weekly average is £431,400.
+ Price reductions: 17,633, down 17.3% from last week’s price reductions). The 2023 running weekly average is 17,997.
+ Average asking price of properties being reduced: £408,600. The 2023 running weekly average is £403,300.
+ Gross sales: 21,417, down 18.3% from last week’s gross sales. The 2023 running weekly average is 22,092.
+ Average asking price of properties sold STC: £372,100. The 2023 running weekly average is £357,500.
+ Sale fall throughs: 4,779, down 17.1% from last week sale fall throughs. The 2023 running weekly average is 4,994.
+ Percentage of sales fall throughs to gross sales: 22.31% The 2023 running weekly average is 23.55%.
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