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PROPERTY MARKET INDEX

Index summary

The Property Index analyses the combined weekly activity from Rightmove & Zoopla. Powered by BuildYourMarket.

Data analysed:
Main period analysed: Saturday 27th June – Friday 3rd July (27.06.2020 – 03.07.2020)
Comparative week: Saturday 20th June – Friday 26th June (20.06.2020 – 26.06.2020)

WITHDRAWALS AT LOWEST RATE SINCE THE BEGINNING OF JUNE

Last week saw a sizeable increase in the comparative number of properties coming to market, with 4,028 additional properties being registered.

Properties changing status to SSTC saw a slight comparative reduction on the previous week, with 640 fewer properties being updated as SSTC.

The trend in withdrawal reductions remain positive and continue to reduce week-on-week, with 801 fewer properties being withdrawn in comparison to the previous week.

Fall-throughs saw a slight increase last week, with 144 additional properties changing status from SSTC back to For Sale. The top ten most impacted postcode areas for fall throughs in this period were: CR0, BR6, CF14, CO15, BB3, BN3, NG24, S63, E17 and B77.

Commenting on the period – 27.06.2020 – 03.07.2020 – BriefYourMarket.com’s Chief Commercial Officer – Richard Combellack – said:

“As June 2020 closed, the market remained buoyant. Over the past few weeks, there has been a consistent level of stock – in and around the 60,000 mark – coming to market on a weekly basis. As we entered July, it was really encouraging to see this trend continuing to climb.

The positive trend in sales (SSTC) continues too. However, the best news from last week is that withdrawals have continued to reduce significantly on a weekly basis. Last week’s analysis indicates that withdrawals are at the lowest level in five weeks, with a substantial -83% reduction.

The fall-through rate continues to remain steady too, settling in and around the 5000 mark for the third week running now. All in all, a positive month in very challenging times.”

SSTC: (Total = 34,275) -1.8% reduction when compared to the previous week, with 640 fewer properties being updated as SSTC. Busiest day in this period was Wednesday 1st July when 9,432 properties were updated as SSTC.

Withdrawn: (Total = 10,356) -7.4% reduction when compared to the previous week, with 801 fewer properties being withdrawn. Busiest day in this period was Wednesday 1st July when 3,838 properties were withdrawn.

Fallen through: (Total = 5,493) 2.6% increase when compared to the previous week, with 144 additional properties falling through. Busiest day in this period was Wednesday 1st July when 1,466 properties fell through.

Count on market: (Total = 64,177) 6.4% increase when compared to the previous week, with 4,028 additional properties being listed. Busiest day in this period was Thursday 2nd July when 15,286 properties were registered.