Summer slump for UK property market
The latest data from the Agency Express Property Activity Index, has revealed a slowdown across the UK property market in July. This month’s report also goes on to highlight that a slowdown in activity is not uncommon, and that yearly comparisons show the declines made in July 2017 are less than those recorded in 2016.
Bucking the seasonal trend, this months regional hot spot was the North East with properties Sold’ sitting at a record best 10.7%.
Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:
Throughout the summer holiday months seasonal adjustments are anticipated, so we are not surprised by July’s figures and expect similar trends in August. This aside the UK property market seems to have plateaued along with lending, so the usual September bounce back may not be as robust.
To read the latest Property Activity Index report in full click here: