Confidence in the UK Property Market Drives Momentum in May

Online, June 3, 2013 (Newswire.com) - National figures reported by the Agency Express Property Activity Index have shown continual rises in property sales for the fourth consecutive month. With confidence growing in the property market the nations 'Sold' board' figures have increased by 8% within 5 month over figures recorded for the same period in 2012.

While the demand for property is on the rise, in recent press it has also been stated that within areas of London and the South East the gap between supply and demand widens. However data recorded by the Property Activity Index indicates continuity. Figures for properties coming on to the market for London are robust and the South East remains consistent.

Regional month on month data recorded by the Property Activity Index has revealed a strong Scottish property market with a quarterly increase of 10.8% up from -4.0% for the same quarter in 2012. This could be reflective of the recent boost in the Scottish economy with The Bank of Scotland reporting a rise in business activity and employment throughout April.

Further increases have been recorded for the East Midlands property market as it bounced back from its first lull of the year in April. The Agency Express Property Activity index reveals solid month on month figures for the region with an increase of 12.3% on properties coming on to the market and a 20.8% increase on properties sold. The South West remains a slow mover down over the last quarter by 4.8% on properties coming on to the market and 9.5% on properties sold.

Agency Express Comments

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:
The general outlook remains positive for the UK property market. Some regions may have recorded declines; however these declines are a fraction of what has been recorded by the Property Activity Index in recent years. The proactive approach to opening up the property market to a wider range of buyers is now displaying its benefits. It's important to remember that when we are measuring supply and demand we must look beyond any issues within the property market and add economy and cost of daily living in to these evaluations. We now have confident consumers wanting to invest in property, financial institutions have opened their doors but, if individual budgets don't stretch people will still remain where they are.