Weather remains cold as the property market heats up
January’s encouraging signs of growth continued on in to a strong and buoyant February, heating up the property market with a national increase on properties sold by a substantial rise of 51.4%. Although increases are inevitable from January to February, national records show that since 2010 property market growth has been gaining pace.
Figures from 2010 to 2011 show a solid 8% increase on property’s sold and figures from 2011 to 2012 show a surprising upward trend with an increase of 16.5%. These figures reflect on how lenders and financial institutions are proactively approaching the property market and adapting to the current needs of UK buyers.
Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:
Figures from February’s Property Activity Index Report have has in main reported positively across the nation. Towards the end of 2012 many regions were hit early on by the seasonal down turn and struggled to regain pace. Figures so far for 2013 have shed a very different light on the UK property market, showing us that confidence is returning. It seems the governmental measures that were set in place during 2012 to invigorate the market have done just that. Lenders continue to offer mortgage rates at all-time lows and with an expected 2% rise on the average property price the banks are optimistic that the property market will remain stable. Looking forward in to March and April it will be interesting to see if the property market maintains it robust start.
To read the latest Property Activity Index report in full click here: