Housing market activity bounces back after Olympics lull

The latest data from the Agency Express Property Actvity Index reveals that the UK housing market  recovered during September, following a period of unseasonal inactivity. According to the latest month-on-month data, figures for September 2012 showed that UK-wide residential property sales increased by 13%, as did new ‘for sale’ listings  by 17.5%.

The Index goes on to report that all of the 12 UK regions covered within the report showed recovery in September. The strongest performers in new ‘for sale’ listings being the North East – up by 25.8%, the East Midlands – up 28.6%, Yorkshire – up 29.3% and the South East which led the way with an increase of 31.3%.

Stephen Watson, Managing Director, Agency Express, commented on the latest Index results saying: “We had our suspicions that the ‘Olympics factor’ was affecting the housing market last month with figures being unseasonably repressed throughout the UK.  September has been a case of back to business as movement returned for both new instructions to sell and for actual completions. Despite this, the market could really do with a period of sustained growth in order to help everyone from first-time buyers to those involved with the construction industry. Although there are different stimulatory moves under discussion – including a relaxing of Stamp Duty for first-time buyers – solid measures have yet to be set in place by the government in order to boost confidence and generate ongoing activity on the required scale.”

To read the latest Property Activity Index report in full please click here.

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