November saw a fall in activity, but not as much as last year

November saw a fall in activity, but not as much as last year [Photo: merron via iStock]

The UK property market saw its usual slowing in activity towards the end of the year in November, but although it's been a testing year for the sector, the drop in activity was not as severe as it was as recently as a year ago. 

According to the activity index from Agency Express, there was a fall in both the number of new homes coming to market in November, and the number of properties sold. However, this was not as high as in November 2015, which may come as a surprise after a year where political uncertainty has reigned supreme. 

The index shows that this November there was a drop of 4.7 per cent in the number of homes listed for sale when compared to October, but this was a far lower fall than was experienced in November 2015, when the number of homes for sale fell by 12 per cent. 

Similarly, there was a drop of 1.8 per cent between October and November in terms of the number of homes sold, but again this was much lower than at the same time last year, when there was a marked fall of 14.7 per cent. 

In fact, despite the problems that the market has had to battle against this year, Agency Express said that the fall is to be expected at this time of year, and that the level of activity seen nationwide in November this year is actually higher than has been experienced in this month at any time since 2013. 

Stephen Watson, managing director of Agency Express, said: "November was a surprisingly buoyant month. Month-on-month figures have reported positively across the nation and year-on-year activity has also increased. 

"It will be interesting to see if the change in trend will have a positive effect on the forthcoming weeks where we traditionally witness a slowdown in the property market until January," he added.