London, United Kingdom (PressExposure) July 04, 2009 -- The latest results from Juneâs Agency Express Property Activity Index shows further signs that the residential housing market is on the road to recovery. The Index, based on the volume and activity status of âFor Saleâ and âSoldâ boards across the UK, reveals the number of âSoldâ signs instructed by estate agents in June rose to its highest level for 14-months - since April 2008 - showing a 19.2% increase on May 2009. Year-on-year there were 36.3% more sales in June 2009 than June 2008.
The region showing the greatest monthly increase in the number of boards moving to âSoldâ was the West Midlands, with a staggering 58.7% rise, followed by the East Midlands, with a 35.1% increase and Yorkshire with a 28.8% increase. The regions experiencing the lowest increase in sales were Wales which remained static, London where there was a 7.6% increase and the North East where 8.3% more sold signs were instructed.
Further results from June show that: * All regions across mainland UK have experienced increases in house sales except Wales, which remained static from May. * Q1 and Q2 2009 have shown significant increases in properties sold on Q4 2008 (the lowest quarter on record) with Q1 2009 up on Q4 2008 by 35.0% and Q2 up on Q1 by 30.6% * The number of properties sold in Q2 2009 still remains 47% down on May 2007 * The number of properties sold in June 2009 was 28.9% greater than the monthly average for 2008 but 34.0% lower then the monthly average for 2007. * The average number of properties sold per month so far in 2009 is 1.0% greater than the monthly average for 2008. * Juneâs new âFor Saleâ board activity is still 32.9% down on last June and 56.1% down on the highest recorded month in the last 2Â½ years (which was May 2007).
Another indicator that confidence is returning to the market, is the 20.4% increase from May to June in the number of âFor Saleâ boards being erected - the fifth month out of the last six that the number of new âFor Saleâ boards has increased on the previous month since December 2008 â the lowest recorded level.
The regions showing the greatest monthly increase in the number of âFor Saleâ boards being put up are the East Midlands at 37.4%, followed by Yorkshire with 26.0% and London at 25.4%. The regions showing the smallest monthly rises in the erection of For Sale boards were Scotland at 2.1%, the North East at 13.9% and the South East at 15.4%.
Commenting on these results, Stephen Watson, Managing Director, Agency Express, said: âOur Index shows that there are grounds for continuing optimism that we have seen the bottom of the market. Confidence is definitely returning and we have seen a step-change in the number of properties being sold right across the UK. This in turn is likely to encourage more people to put their houses up for sale and we have certainly seen evidence of this happening already. But, we are not out of the woods yet. The number of properties sold in June is still significantly behind the monthly average we saw in 2007 and I would suggest that itâs likely to take a another couple of years for a full recovery to take place.â
Hot spots for âSoldâ boards: The three regions that have seen the greatest monthly increases in the number of boards moving to âSoldâ in June are: Rank Region Percentage monthly change 1 West Midlands +58.7% 2 East Midlands +35.1% 3 Yorkshire +28.1%
Not-so-hot spots for âSoldâ boards: The three regions that have seen the greatest monthly decreases in the number of boards moving to âSoldâ in June are: Rank Region Percentage monthly change 1 Wales 0% 2 London 7.6% 3 North East 8.3%
Hot spots for new listing âFor Saleâ boards: The three regions that have seen the greatest monthly increases in the number of âFor Saleâ boards being erected in June are: Rank Region Percentage monthly change 1 East Midlands +37.4% 2 Yorkshire +26.0% 3 London +25.4%
Not-so-hot spots for new listing âFor Saleâ boards: The three regions that have seen the greatest monthly decreases in the number of âFor Saleâ boards being erected in June are: Rank Region Percentage monthly change 1 Scotland 2.1% 2 North East 13.9% 3 South East 15.4%
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Jason Wyer-Smith on 07824 818242 or firstname.lastname@example.org Rob Davies on 01603 305822 or 07709 366310 or email@example.com Carl West on 01603 305811 or firstname.lastname@example.org Or go to http://www.propertyactivityindex.co.uk
Month-on-month percentage changes 2009 Month For Sale boards erected Sold boards instructed January +65.2% +31.5% February +8.7% +37.5% March +25.0% +27.4% April -17.9% -4.7% May +2.1% +1.7% June 20.4% 19.2%
Agency Express was formed in 1998 specifically to provide a nationwide âFor Saleâ board erection and management service for corporate and independent estate agencies via a network of franchisees. Today, Agency Express is the UKâs largest âFor Saleâ board company with one in four boards being erected and serviced by our franchisees.
âFor Saleâ boards can be seen on virtually every street in the UK and every one of these boards needs to be erected, changed to display âSoldâ and, finally, be removed at a time agreed with the agency when the sale has been completed. In short, a multi million pound business, the results of which give a very visible indication of the condition of the UK residential property market.
â¢ The UKâs only truly nationwide estate agency âFor Saleâ board company â¢ 18 out of the top 20 estate agency chains use Agency Express â¢ On-line management system provides estate agencies with total control over their board assets â¢ Full members of the British Franchise Association â¢ Carrying out up to 4,000 board movements every working day
Stephen Watson; Founder & Managing Director of Agency Express, Stephen has 20 years estate agency experience, was instrumental in the formation of the UKâs first estate agency franchise company and latterly, headed up the franchising division of Alliance & Leicester Property Services.