Property Activity Index shows pre election slow down
The latest data from the Agency Express Property Activity Index shows a slump in the UK property market and we approach the 2015 General Election.
April which is characteristically a consistent and robust month for the property market fell for the first time in three months. Properties ‘Sold’ dropped by -4.9% and new listings ‘For Sale’ by -3.8%.
Analysing the Property Activity Index’s historical data records show that the last decline made for the month was in fact during the 2010 pre Elections, where properties ‘Sold’ fell by -0.7%. The trend then continued in to 2011 with ‘Sold’ figures falling again by -3.6% before resuming its normal activity until this month.
Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:
This month’s Property Activity Index figures are fascinating. What is usually a robust and active market across the nation, has seemingly halted in anticipation of the upcoming General Election. As we can see the Index shows that this trend did occur 5 years ago although to a higher degree this year. It will be interesting to see the result of this year’s General Election and how that is going to impact the UK property market moving forwards.
Please click here to read the Agency Express Property Activity Index Report in full.