UK property market slows as the Autumn slump sets in
Octobers data from the Agency Express Property Activity Index, has revealed a slowdown across the UK property market as the seasonal slump set in. National ‘For Sale’ figures fell to sit at -6.1% while ‘Sold’ figures fell marginally at -1.5%.
The largest increase in this months index was recorded in Scotland with figures for properties ‘Sold’ sitting at a robust +30.1%. The greatest decline was recorded in London. New listings ‘For Sale’ fell to sit at -15.2% and marked the region’s largest decline for October since 2014.
Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:
During October we traditionally observe a seasonal slowdown and this month has by and large remained true to trend. The Property Activity Index has shown one pattern across the UK and that is a slowdown in supply. However, as the index’s historical data highlights supply was much slower in October 2016 and overall we are seeing year on year growth. As we now head in to the last few months of the year it is unlikely that we will see any major increases in activity until January.
To read the latest Property Activity Index report in full please click here: