UK Property Market Stats Show Week 25 2023 (with Bryan Mansell) - Ep.1632

UK Property Market: House Sale Fall-Thrus Begin To Rise in Last 2 Weeks, But Strong House Sales Defy the Odds Despite negative headlines in the media, Chris ‘Property Stato' Watkin and Bryan Mansell discuss the state of last week's UK Property Market. Even with the economic challenges, the number of properties marked as "Sale Agreed” ie marked as Sold stc last week was 5.9% higher than the weekly average for 2023. They then delve into what is happening in the regions regarding house sales, with some regions like the South East being 7.6% ahead of their 2023 weekly average. However, there has been a recent increase in Sale Fall Thru rates, with the current weekly rate at 27.66%, surpassing the 25% threshold for the second consecutive week. While this rate is not as high as the levels seen in Q4 2022 (when it averaged 38.7% per week), both said it was important to monitor this upward trend closely. Listings, Price Reductions, House Sales Agreed and Price Reductions are analysed both nationally and regionally in the ‘UK Property Market Stats Show’ and Estate Agency bosses and their teams need to do with this data to ensure they are advising their vendors correctly and secure the the right kind of stock to get the property sold and get paid for the hard job they do. The KPIs / Statistics of the UK Property Market for the week (Monday 19th June to Sunday 25th June 2023 inclusive) … + New properties to the market (Listings): 36,114 for the week. The 2023 running weekly average is 32,788. + Average Listing price: £449,739. The 2023 running weekly average is £433,986. + Price reductions: 23,573. The 2023 running weekly average is 18,589. + Average asking price of properties being reduced: £435,232. The 2023 running weekly average is £405,463. + Number of properties Sold (Gross Sales): 23,668. The 2023 running weekly average is 22,345. + Average asking price of those properties that Sold STC this week: £371,014. The 2023 running weekly average is £359,321. + Sale fall throughs: 6,546. The 2023 running weekly average is 5,139. + Sale Fall Thru Rate (Very Important Stat). The number sales fall throughs expressed as a percentage of this week’s gross sales: 27.66% The 2023 running weekly average is 23.8%. (ie this week .. the number of sale fall thrus was 6,546 and the number sale agreed was 23,668. So, 6,546 expressed as a percentage of 23,688 is 27.66%) In the last 15 minutes of the show, they focus on the Colchester property market Graphs & Charts from the Show https://we.tl/t-nN2rwsJrkz Youtube Show https://youtu.be/8vuNF8THOF8