Seasonal slowdown for UK housing market in June
The latest data from the Agency Express Property Activity Index showed few surprises for the UK’s residential property market in June, repeating historic trends of previous years with a monthly seasonal slowdown.
Month-on-month data reported that UK-wide residential property sales decreased by -6.3%, whilst new ‘for sale’ listings also decreased month-on-month by -4.4% compared to May. However, there was some good news from the Index through the comparison of activity from Q2 v Q1 2012 which reassuringly shows a +16.9% increase in the number of new ‘for sale’ listings reported and a +21.2% increase in the number of properties ‘sold’.
Commenting on the latest Index results, Stephen Watson, Managing Director, Agency Express, said: “June has been an interesting month for the UK property market. Predominantly the figures do follow the seasonal month-on-month trend for June established since our Index began 2007, but it does also show some real geographic variances between countries, regions and cities. London is frequently talked about as a barometer for the UK housing market and in June it was one of the hot-spots with some positive figures. Year on year figures for June 2012 against June 2011 are also very encouraging with positive growth.
Please click here to read the Property Activity Index report in full.