Commenting on the latest Index results, Stephen Watson, Managing Director, Agency Express, said: “Despite being in unchartered waters regarding the Government’s austerity measures and talk of a double-dip recession, I believe consumers have taken stock of the overall economic situation and have decided that the property market is still holding relatively firm with steady demand and genuine opportunities. With the likelihood of interest rates remaining low for the next few months, the market is looking very healthy, particularly with the number of properties coming on the market, which might be a reflection of the number of people choosing to holiday at home this year with more time to think and act on their next house move”
Regional hot-spots for the number of houses ‘Sold’ in August were - Wales up 28.5% with the largest increase, East Midlands up 14.7% and Yorkshire up 10.7%. In terms of cities with the greatest increase in property sales for August - Leicester was up a massive 71.3%, Southampton up 40% and Edinburgh up 38.1%.
When it came to properties being put up ‘For Sale’, the regions with the greatest increases against July were – Wales up 13%, South West up 9.1% and the South East up 3.8%. The cities showing the greatest increase in the number of properties coming on the market were – Glasgow up 19.7%, Coventry up 11.9% and Oxford up 10.8%.
Despite the positive overview of the market, there were a few regions that showed a decrease in house sales – Central England down 18.6%, South West down 6.9% and Scotland overall down by 6.1% against July. Cities that also showed a decrease in house sales for August were – Oxford down 25.7%, Glasgow down 22.6% and Exeter down by 14%. |
