UK Property Market Stats Show - Week 48 2024 - Ep.2044

Letting & Estate Agent Podcast

UK Property Market Weekly Update In this week’s ‘UK Property Market Stats Show’ on YouTube for week ending Sunday, 1st December 2024, myself and this week’s special guest, Verona Frankish (boss of Yopa) discuss the property market headlines for Week 48 of 2024. Youtube Show … https://youtu.be/Pjbu1VsbO8Y The main headlines: · Listings (New properties coming on to the market) - 24.6 UK listings this week (week 48), an expected drop of 2.6k from last week. 8.4% higher 2024 YTD than 2023 YTD. · % of Resi Sales Stock being reduced (Monthly): 13% of Resi sales stock was reduced in the last month. 14% last month and long term 5 year average 10.6%. · Total Gross Sales - 22.8k UK homes sold stc this week (Week 48), 4% lower than last week. 20% higher than the same standalone week (week 48) in 2023. Also, 8.8% higher than 2017/18/19 YTD levels & 15.2% higher than 2023 YTD levels. · Sale Thru rate (Monthly): UK Estate Agents sold 16.11% of their Resi sales stock last month. 2024 average is 15.86% & the 7 year long term average is 17.9% per month - yet don’t forget that was only in mid/late 20%’s in the crazy years of 20/21/22). · Sale fall-throughs - For the week 48, Sale Fall Thrus (as a % of Gross sales Agreed) decreased 23.8%). The 7 year Long Term weekly Average is 24.8% and it was 40%+ in the two months following the Truss Budget in the Autumn of 2022. · Net Sales - 17.4k this week (average for last 4 weeks 17.6k). 20% higher than the same week 48 in 2023, 66% higher than the same week 48 in 2022 & still 17.4% higher YTD in 2024 compared to YTD 2023. · % of Homes exchanging vs homes unsold - Of the 1,438,852 UK homes that left UK Estate Agents books since the 1st Jan 2024, 772,292 of them (53.67%) exchanged & completed contracts (meaning the homeowner moved and the estate agent got paid). The remaining 666,560 (46.33%) were withdrawn off the market, unsold.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. Graphs https://we.tl/t-HSdqrQueAs