In this week’s YouTube video, The ‘UK Property Market Stats Show’, Christopher Watkin and special guest, James Forrester, discuss what happened in the UK Property Market in the week ending Sunday 30th July with regard to listings, price reductions, sales agreed and the sales falling through at a national and regional level.

In the last 15 mins of the show, this week’s Estate & Letting Agent town focus is on Shrewsbury.

The UK Property Market is still holding its own, despite the current economic woes with net sales up 2.54% on the last 3 weeks running average. Sale fall throughs were down 8% from the previous week.

Other key stats are:

New properties to the market (Listings): 32,232 for the week. The 2023 running weekly average is 32,943.

Average Listing price: £416,478. The 2023 running weekly average is £433,282.

Price reductions: 21,679. The 2023 running weekly average is 19,371.

Average asking price of properties being reduced: £404,548. The 2023 running weekly average is £407,546.

Number of properties Sold (Gross Sales): 21,440. The 2023 running weekly average is 22,254.

Average asking price of those properties that Sold STC: £353,838. The 2023 running weekly average is £359,422.

Sale fall throughs: 5,952. The 2023 running weekly average is 5,338.

Sale Fall Through Rate. The number sales fall throughs expressed as a percentage of this week’s gross sales: 27.76%. The average over the last month 29.31% The 2023 running weekly average is 24.68%.

Net Sales: 15,488. The 2023 running weekly average is 16,917.

Year to date Net Sales – 508k – compared to 625k in 2022, 721k in 2021, 441k in 2020, 559k in 2019, 563k in 2018 and 528k in 2017.