UK Property Market Stats Show - Week 42 2024 - Ep. 2002

UK Property Market Weekly Update In this week’s ‘UK Property Market Stats Show’ on YouTube for week ending Sunday, 20th October 2024, Chris ‘Stato’ Watkin with this week’s special guest, Ben Madden, discuss the property market headlines for Week 42 of 2024. The main headlines: · Listings (New properties coming on to the market) - 32.5k UK listings this week (week 42), a drop of 1.8k from last week. 7.5% higher for the 2024 YTD than 2017/18/19 YTD average. 6% higher than Week 42 of 2023. · Total Gross Sales - 26k UK homes sold stc this week (Week 42). Same level as last week. 23% higher than the same week (week 42) in 2023. Also, 7.9% higher than 2017/18/19 YTD levels & 14.5% higher than 2023 YTD levels. · Net Sales - 19.5k this week (19.4k last week). 25% higher than the same week 42 in 2023 & still 17.2% higher YTD in 2024 compared to YTD 2023. · % of Homes exchanging vs homes unsold - Of the 1,222,925 UK homes that left UK Estate Agents books since the 1st Jan 2024, 654,081 of them (53.5%) exchanged & completed contracts (meaning the homeowner moved and the estate agent got paid). The remaining 568,844 (46.5%) were withdrawn off the market, unsold. In essence you a flip of the coin chance of actually selling, homeowners moving and the estate agent getting paid. · UK House Prices - Final September figures suggest a slight jump in this important metric to £340/sq.ft. For comparison - August’s Figures for the Sale Agreed £/sq.ft was at £338/sq.ft, and July at £341/sq.ft. This means house prices are stable. · Sale fall-throughs - Agents lost 5.5% of their sales pipeline in September. For the week,Sale Fall Thrus (as a % of Gross sales Agreed) remained stable at 25.3% this week. The 7 year Long Term weekly Average is 24.2% and it was 40%+ in the two months following the Truss Budget in the Autumn of 2022. 🔗 YouTube Link to The Show - https://youtu.be/4JXZ-2ZixGM Local Focus this week was Oxford Graphs available to Download here - https://we.tl/t-qyUAJM9DyO