Another Month Of Consecutive Growth For The UK Housing Market

Online, July 16, 2013 (Newswire.com) - Positive figures all round as the Agency Express, Property Activity Index indicates another month of consecutive growth for the Uk housing market. Banks and building societies continue to slash their rates leaving buyers in the mortgage sweet spot of being able to choose from a variety of lenders. House prices also continue to rise as does our optimism within the property market.

The Property Activity Index provides a true insight in to the UK housing market, collecting real time data on the nation's daily 'For Sale' and 'Sold' board movements. June's figures are reflective of the current market and indicate wide speed robustness throughout the 12 regions recorded by the Index.

Figures from the Agency Express Property Activity index showed an injection of new 'For Sale' properties coming on to the market with nationwide rise of 15.8% and significant increases of 30.8% in central England, 39.9% in the South East and 56.6% in the capital. Further notable increases recoded were East Midlands - up by 17.2%, the South West - up 13.8%, Wales - up 17.0% and West Midlands - up by 10.8%.

Only two of the twelve regions recorded by the Property Activity index recorded minor declines. The North West recorded a rise of 6.7% on new 'For Sale' properties coming on to the market but dropped by almost equal measures of -6.3% on properties sold. Scotland made its first decline in 5 month on properties sold dropping off by -6.0%

June also saw a pickup in lending with banks and building societies have stated that June has been their best month for mortgage lending since 2008. This statement is supported by the data recorded within Property Activity Index, numbers of 'Sold' boards erected nationally rose by 9.1%. Hotspots for regional sales included the South West - up 15.3%, East Anglia - up 16.5%, the North East - up 17.5 and Wales charging ahead with an impressive increase of 55.1% from its decline of -23% in May.

Looking more closely at the data recorded by the Property Activity Index for individual towns and cities, Brighton was up by 55.71% on properties coming on to the market and 42.8% on properties sold. Cardiff boasting increases of 29.58% on properties coming on to the market and 49.30% on properties sold and finally Newcastle, up 14.11% on properties coming on to the market and 45.00% on properties sold.

Agency Express Comments

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:

A robust month for all regions! It seems that we're now are really getting to grips with what's needed to re-energise the UK housing market. Earlier this year financial institutions made fundamental changes to how and to whom they offered mortgages too, it now seems that we are really beginning to see the full effect of this. The property market has opened its doors groups of people that could almost grasp the property. For those that are still stuck within 'generation rent' the property ladder still feels far from reach with rent and inflation rising over the average household income.