'Moving' into 2013 - New Year, New Property Market

Jan 30, 2013, 05:53 ET from Agency Express Limited

NORWICH, England, January 30, 2013 /PRNewswire/ --

Property Activity Index

January Report- Sales

The latest figures from Agency Express' Property Activity Index report have revealed encouraging signs for the UK housing market as it moves confidently in to 2013. Data recorded by the index has shown a national increase on properties sold throughout January, highlighting a substantial rise of 7.7% over figures during the same month in 2012.

January's figures tentatively indicate the first signs of what is predicted to be a turnaround in the property market. Lenders such as NatWest and HSBC are primed with five-year mortgages fixed at rates under 3%, whilst others like Nationwide, Coventry and Skipton building societies have cut rates in recent weeks. It seems that the Bank of England's 'Funding for Lending Scheme' is now taking shape and is driving the growth forward. Financial institutions are now taking advantage of the extra capacity and are adjusting their offerings to tempt new business.

Regional month on month data recorded by the Agency Express Property Activity Index shows a thriving central England with an increase of 79.6% on properties coming on to the market, a massive 52% increase on the figures recorded for January in 2012. An 11.7% increase was recorded for properties sold, resulting in the region reporting its best figures for the month within the last two years.

The North East displayed significant increases on properties sold, up by 14.8%, also recording the best figures for the region since 2008. Further notable increases have been recorded for London, up by 23.3%, which is a healthy increase of 18.7% for the capital in comparison to previous years' figures.

The Property Activity Index also shows a minor increase of 0.5% on properties sold in the North West. However looking back over a 3 month period, the month on month data recorded by the index shows a total drop of -12.7%. While these figures have risen in comparison to previous years, the North West is still yet to catch up with surrounding regions.

Agency Express Comments

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said: Many changes are occurring in the way in which mortgages are being offered by lenders. New deals, dropped rates and incentives are being reported almost on a daily basis. However great rates come at a high price, and although 2013 seems to be the year to secure yourself a deal, without some substantial savings or family support, first time buyers can still expect to pay above the odds. Nevertheless, the forthcoming months will be an intriguing time for the property market. We have come a long way since the start of the recession and with the uncertainty of the last few years it's great to once again see some excitement and positivity in the marketplace.

Editors notes:

Agency Express was formed in 1998 specifically to provide a nationwide 'For Sale' board erection and management service for corporate and independent estate agencies via a network of franchisees. Today, Agency Express is the UK's largest 'For Sale' board company with one in four boards being erected and serviced by our franchisees.

'For Sale' boards can be seen on virtually every street in the UK and every one of these boards needs to be erected, changed to display 'Sold' and, finally, be removed at a time agreed with the agency when the sale has been completed. In short, a multi million pound business, the results of which give a very visible indication of the condition of the UK residential property market.

  • UK's only truly nationwide estate agency 'For Sale' board company
  • 18 out of the top 20 estate agency chains use Agency Express
  • On-line management system provides estate agencies with total control over their board assets
  • Full members of the British Franchise Association
  • Carrying out over 4,000 board movements every working day

Stephen Watson; Founder & Managing Director of Agency Express, Stephen has 20 years' estate agency experience, was instrumental in the formation of the UK's first estate agency franchise company and latterly, headed up the franchising division of Alliance & Leicester Property Services.

For further information or to arrange an interview please contact:

Naomi Wood on +44-(0)1508-579-800 or email naomi.wood@agencyexpress.co.uk or go to http://www.agencyexpress.co.uk/property-activity-index/ for a PDF of the latest report.

SOURCE Agency Express Limited