UK property market sees a summer slowdown in July
The latest data recorded by the Agency Express Property Activity Index reveals an early summer slowdown in July.
Figured recorded by the index over a rolling three month period highlights that the number of residential properties achieving a ‘Sold’ status has decreased by -2.70%. New listings ‘For Sale’ have also decreased in this time with the figure dropping by -1.20%
With the usual seasonal dip not anticipated until August, this month’s Property Activity Index looks at the regions most affected by the slowdown.
Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said: The figures reported by this month’s Property Activity Index have revealed marginal declines across the most of the market. Nevertheless on a whole the performance of the UK property market this year has been robust and demand for property continues to rise. As we now enter the summer holiday months where a seasonal slowdown is anticipated I am curious to see if the boost in gross mortgage lending will convert in to actual sales or whether people will hold off until September.
Please click here to read the Agency Express Property Activity Index Report in full.