UK housing market bounces back but at a slower rate
The latest data revealed by the Agency Express Property Activity Index shows recovery in September as UK housing market picks up pace from the summer slowdown of July and August.
After two slow consecutive months for the UK housing market the latest figures from Property Activity Index show national growth in September for both new listings ‘For Sale’, rising by 4.6% and properties ‘Sold’ rising by 3.2%. Although figures remain modest in comparison to those recorded in September 2013 where new listings ‘For Sale’ rose by 11.2% and properties ‘Sold’ rose by 17.2%.
Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:
Throughout July and August we historically see a seasonal slowdown. Then during September the UK housing market figures rise once again when normal activity resumes. This month we have seen the market do exactly that but to lesser degree. The robust figures recorded in September 2013 were heavily impacted by the launch of the Bank of England’s ‘Funding for Lending Scheme’, financial institutions significantly adjusting their offerings and the overall excitement of the revived housing market. This month’s figures balance up with the current activity in the property market which is more subdued in comparison.
Please click here to read the Agency Express Property Activity Index Report in full.