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Written by rosalind renshaw

The number of properties achieving ‘Sold’ status in 2011 dropped by 2.8% compared to 2010, and the number of new ‘For Sale’ listings recorded throughout 2011 also fell, down by 5.2% on the previous year.

The data is from estate agency signs firm Agency Express. But the picture was extremely localised, with different regions showing sharp contrasts, with five out of the twelve regions showing increases in the number of properties achieving ‘Sold’ status in 2011 compared with the previous year.

London topped the annual table for hot-spots, up 13.5% on 2010, followed by Wales, up 12%, the West Midlands 6.4%, East Anglia 3.2% and the East Midlands 1.6%.

When it comes to the not-spots, the North-East suffered a 14% drop in the number of properties ‘Sold’. Yorkshire was down 12.3%, central England 9.3%, Scotland 8%, the South-West 7.8%, the South-East 7% and the North-West 2.8% on 2010.  
 
Wales had the greatest number of new ‘For Sale’ listings, up 7.1% on the year before, compared with the North-East which was down 24.8%, while the South-East was down 19.3%. Yorkshire new listings were down 12.8% and in the West Midlands down 6.2%.

Stephen Watson, managing director of Agency Express, said: “Last year was very challenging for the UK property market. However, several regions actually produced positive growth which is very promising.

“I believe we have another challenging year ahead as the factors impacting 2011 will still be in play throughout 2012.

“Our index does highlight, though, that if properties are realistically priced and the traditional stand-off between vendor and purchaser can be bridged, properties will sell.”

Comments

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    "The number of properties achieving ‘Sold’ status in 2011 dropped by 2.8% compared to 2010, and the number of new ‘For Sale’ listings recorded throughout 2011 also fell, down by 5.2% on the previous year.

    The data is from estate agency signs firm Agency Express."

    Suppose it sound better - more professional and all that - than " The number of For Sale Boards we knocked up, and the number of SSTC slips we stuck on boards went down a bit from last year - so we made less money"

    It then goes on to quote Mr Watson as stating “Our index does highlight, though, that if properties are realistically priced and the traditional stand-off between vendor and purchaser can be bridged, properties will sell.”

    Ermmm... does it? I don't think so. I've read the report forwards, backwards and side-to-side and NOWHERE does it make a corellation between prices and activity.

    How would they know?

    • 13 January 2012 19:32 PM
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    For sale board….check
    Hammer….check
    Nails…check
    Wooden post….check
    In depth insider knowledge of the housing market and pricing structures…….check

    • 11 January 2012 12:39 PM
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    “Our index does highlight, though, that if properties are realistically priced and the traditional stand-off between vendor and purchaser can be bridged, properties will sell.”

    Really! How innovative!
    Funny how more and more want to quote the obvious.
    How many EA's, who negotiate this every day of the week, didn't realise until now what their job was?
    Suggest AE sticks to putting boards up & down and just advise us of the activity ;>)

    • 11 January 2012 11:20 AM
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    It is interesting that one of the best barometers of the estate agency world is one company that puts up boards...

    • 11 January 2012 09:13 AM
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    London aside - the areas that have gone up are the areas where the market almost came to a standstill after the credit crunch. The areas that went down are the ones that weren't as badly affected by the credit crunch.

    What does this tell us? Not a lot really. That people who can scrape the money together at very low interest rates can afford to buy property in the cheapest areas of the country. In the more expensive areas less and less people can afford property.

    The war of attrition continues - for another 20 years or more.

    • 11 January 2012 07:16 AM
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