Property Activity Index shows upward trend in August
The UK property market bounces back in August. The latest figures revealed by the Agency Express ‘Property Activity Index’ highlighted national growth, with properties ‘Sold’ rising by +1.90% .
Throughout August seasonal trends historically show slower activity. However recent figures revealed by the Bank of England show mortgage approvals to be 7.5% higher than those in May. The rise in mortgage approvals appear to be positively impacting the market, although some regions did record a decline in sales throughout the month.
Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said: A seasonal slowdown is usually anticipated in August and although we have seen some regional declines overall the Property Activity Indexes figures remain robust. As the summer holidays have now come to an end and normal routines begin to resume, I am optimistic that the upward trends and reports we’ve been seeing will resume and the rest of the year will continue to show growth.
Please click here to read the Agency Express Property Activity Index Report in full.