A wet February affects the March property market
After a robust start to 2014 the UK property market slows down as we enter the spring months. National data recorded by the Property Activity Index highlights a drop in the March property market for properties ‘Sold’.
The Bank of England has also reported a drop in mortgage lending, with speculation of it being a result of a prolonged wet winter.
The statement shows validity as national new listings ‘For Sale’ continued to rise for the third consecutive month, up by 6.40% maintaining our confidence in the continued growth of the UK property market.
However figures calculated over a 3 month period still remain robust. All of the 12 regions recorded by the Index continued increases in both properties ‘Sold’ and new listings ‘For Sale’.
To read the Agency Express Property Activity Index Report in full please click here.