- Listings
(New properties coming on to the market): 29k UK listings this week (week 46). YTD 2024, listings are
8% higher compared to 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:
24.2k UK homes sold stc this week (Week
46), slightly more than last week. 19.2% higher than the same
standalone week (week 46) in 2023. Also, 8.5% higher than 2017/18/19 YTD
levels & 14.9% higher than 2023 YTD levels.
- Sale
Thru rate (Monthly): UK Estate Agents sold 16.11% of their Resi sales stock in
Oct ’24. Sept ‘ 24 was 14.79%. 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 46,
Sale Fall Thrus (as a % of Gross sales Agreed) dropped significantly to
25% (down from 28.8% last 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. Agents lost 5.8% of their sales pipeline in Oct’24 (up
from 5.6% in Sept ‘ 24).
- Net
Sales: 18.1k this week
(17k last week). 18.2% higher than the same week 46 in 2023, 76% higher
than the same week 46 in 2022 & still 17.3% higher YTD in 2024
compared to YTD 2023.
- %
of Homes exchanging vs homes unsold: Of the 1,358,587 UK homes that left UK Estate Agents books
since the 1st Jan 2024, 728,138 of them (53.6%) exchanged & completed
contracts (meaning the homeowner moved and the estate agent got paid). The
remaining 630,449 (46.4%) were withdrawn off the market, unsold.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: As explained in the show, the £/sqft figure foretells and
predicts the Land Registry 5 months in advance with an accuracy rating of
92%. Final October figures saw a slight jump in this important metric to
£346/sq.ft. For comparison - Sept’s £339/sq.ft, August’s £338/sq.ft, and
July at £341/sq.ft. This means house prices are slightly growing.
- Resi
Sales Stock on the Market: (Monthly
Stat) : 725k at end of October (up from 724k at end of Sept). For
comparison, Oct ’23 - 664k, Oct ’22 - 523k, Oct ’21 - 425k, Oct
’20 - 681k, Oct ’19 - 652k.
