For our latest edition of Delving into Data, we review the current UK housing market and the ongoing impact of the vote for Brexit…
- The Sale Base (number of houses listed for sale) has risen steadily since the beginning of April. It remains to be seen whether the market keeps growing to the level we saw around this time last year (pre-Brexit).
- Despite the market growth, Sold Subject to Contract properties spiked sharply in April and at one point there were more SSTC triggers than New Instruction triggers. In other words, more houses were being removed from the market (SSTC) than added to the market (New Instruction).
- Despite this increase in SSTCs, the Exchanged trigger has not spiked yet, so something to look out for in the next few weeks.
- Price changes are slowly increasing in instances since January of this year, after a large drop at the end of 2016. However this fall is likely due to the slower Christmas period more than anything.
- The number of fallen throughs has remained relatively stable from February to mid-April this year, rising very slightly since this period. The number of Fallen Through properties as of 19th May 2017 was less than that of the day before the Refendum (23rd June 2016).