UK Property Market Stats Show - Week 36 2024 - Ep.1960

Letting & Estate Agent Podcast

UK Property Market Weekly Update In this week’s ‘UK Property Market Stats Show’ on YouTube for week ending Sunday, 8th September 2024, Chris ‘Stato’ Watkin with this week’s special guest, Toby Phillips (boss man of Martin & Co, Whitegates & the xPerience franchised estate & letting agency brands), discuss the property market headlines for Week 36 of 2024. The main headlines: · Listings (New properties coming on to the market) - 38.6k UK listings this week (week 36), 29.2k the week before (although that was a bank Holiday week). Yet, 7.4% higher 2024 YTD than 2017/18/19 YTD average & 13.4% higher than Week 36 of 2023. · Total Gross Sales - 25.9k UK homes sold stc this week (Week 36), which 24.8% higher than the same week (week 36) in 2023. Also, 7% higher than 2017/18/19 YTD levels & 12.8% higher than 2023 YTD levels. · Net Sales - 18.3k this week, 29% higher than the same week in 2023 & still 15.4% higher YTD in 2024 compared to YTD 2023. · % of Homes exchanging vs homes unsold - Of the 1,019,576 UK homes that left UK Estate Agents books since the 1st Jan 2024, 541,540 of them (53.11%) exchanged & completed contracts (meaning the homeowner moved and the estate agent got paid). The remaining 478,036 (46.89%) were withdrawn off the market, unsold.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 - Figures for the whole of August, the Sale Agreed £/sq.ft remained at £338/sq.ft, a slight drop from July at £341/sq.ft. House Prices are 1.22% lower than 4 months ago. · Sale fall-throughs - Sale Fall Thrus (as a % of Gross sales Agreed) increased to 27.5% this week (they always do the week after the Bank Holiday). The 7 year Long Term 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/0QUijoeanEk Graphs available to Download here - https://we.tl/t-fpv8ncykRt