Whilst UK monthly house sales fell in November, it was a far less significant drop than the previous three years, according to the latest Agency Express Property Activity Index.
The index found that in November the number of residential house sales agreed in the UK fell by 5.8% compared to a 4.0% rise in October. Compared to November 2009, sales were down just 1.4%. In previous years, November has seen monthly house sales falls of 20.5% in 2007, 23.9% in 2008 and 8.3% in 2009.
The amount of new ‘For Sale’ signs that went up in November was down 12.6%, the third consecutive month that there has been a monthly fall, with all regions seeing a downturn. Again, this hasn’t been as dramatic a fall as in November 2007 when there was drop of 17.9% or November 2008 when there was 30.3% reduction.
Also, the number of properties put on the market in November 2010 was 12.1% more than a year ago.
Stephen Watson, managing director, Agency Express, said: “Whilst there was an expected downturn in the number of properties sold and new ‘For Sale’ instructions this month
