August’s property market springs no surprises

Following July’s seasonal slowdown August’s property market has sprung no surprises. The latest data from the Agency Express Property Activity Index has remained true to trend; national figures for properties ‘Sold’ fell by -10.4% as did new listings ‘For Sale’ falling by -7.5%. While a seasonal adjustment is expected during this period, the decline in figures have been greater than those recorded in 2014 where we witnessed an increase of 1.9% in properties ‘Sold’, and marginal drop of -0.6% in new listings ‘For Sale’. However as we enter September and typical trends resume we may witness a spike in activity. In recent reports from The Council of Mortgage Lenders  it has been estimated that gross mortgage lending reached a massive £22 billion in July; 14% higher than July 2014 and the highest monthly total for seven years. 

Looking at performance across the rest of the UK, all 12 regions recorded by the Property Activity Index reported declines in properties ‘Sold’. The largest decline was made by the East Midlands who for the first time in 7 months fell by -19.9%. The North East also fell for a second consecutive month recording a drop of -16.9%, as did East Anglia falling by -13.4%.

Figures from the Property Activity Index also highlighted a decline in properties coming on to the market with only 2 of the 12 regions recording increases in new listings ‘For Sale’. The North West bucked the seasonal trend with a robust increase of 17.5%, marking their best August since the Index’s first records in 2007. Wales also reported a healthy increase of 3% recording their largest rise in properties ‘Sold’ since March earlier this year.

Agency Express Comments

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said: 

Throughout July and August seasonal adjustments are anticipated and although many regions saw a substantial slowdown the outlook for September remains robust. Gross mortgage lending reached record highs in July and competitive mortgage rates are still accessible.  Now summer holiday months have come to a close and normal routines resume, I am optimistic that the upward trends we witnessed in June will resume.

Monthly % Changes for August 2015

% Changes for Jun - August 2015

New Listings
% Change over last 12 months vs Previous 12 months

Properties Sold
% Change over last 12 months vs Previous 12 months

New Listings Properties Sold
Aug 15 Aug 14 Aug 15 Aug 14
NATIONAL -7.5 -0.6 -10.4 1.9
Central England -5.9 -1.2 -10.3 7
East Anglia -13.6 -2.4 -13.4 6.6
East Midlands -14 16.5 -19.9 20.2
London -3.9 -8 -9.1 15.4
North East -15.8 -1.4 -16.9 -22.2
North West 17.5 1.2 -6.4 -8
Scotland -12.6 -3.2 -8.9 2.7
South East -22.7 -7.1 -11.9 -4.3
South West -13.2 -1.8 -5.3 2.6
Wales 3 13.9 -10.4 13.7
West Midlands -13 11.8 -8.2 -11.9
Yorks & Humber -2.5 -5.3 -10.5 -8.2
New Listings Properties Sold
Jun -
Apr 15
Jun -
Aug 14
Jun -
Aug 15
Jun -
Aug 14
NATIONAL -2.4 -1.4 -0.6 -1.8
Central England -2.4 1.8 -0.6 2
East Anglia -4 -0.5 -3.1 -2.2
East Midlands -1.7 -1.9 -2.1 0.1
London -8.1 -1.9 -2.6 2.5
North East 0.6 2.1 2 -8.7
North West 5.5 -3.8 4.2 -3.6
Scotland -5.7 -8.4 -1.8 -4.1
South East -3.5 -1.6 1.1 -2.1
South West -2.1 -2.2 2.5 -3.4
Wales 0.9 11.4 3 5.1
West Midlands -2.5 2.8 -1.3 -4.9
Yorks & Humber -2.3 -3.1 -4 -4.3
Loading...

Creating the report for you to download...

Request a Quote
Close Let us know how
we can help you...

Thank you!

Close Let us know how
we can help you...

Thank you!