UK Property Market Sees Regional Record Bests In June

Norwich, July 7, 2014 (Newswire.com) - This month the Agency Express Property Activity Index sheds a positive light over reports of mortgage approvals dropping for a fourth consecutive month. Data released by the British Banker’s Association show that figures for house purchases and re-mortgages have been falling month on month since February.  However rolling three monthly figures recorded by the Agency Express Property Activity Index shows that across the nation properties ‘Sold’ are up by +4.50% with a month on month increase of +7.2% in June.  New listings ‘For Sale’ were also up by +21.9% over figures recorded in May, a +9.20% increase over the last three months.

Out of the eleven regions recorded by the Property Activity Index nine reported increases in properties ‘Sold’ and ten recorded increases in new listings ‘For Sale’.  This month’s top performer’s fall within two very different price brackets yet both have outperformed surrounding regions.  After a slow May Yorkshire and Humberside came back strong reporting record bests for June.  New listings ‘For Sale’ rose by +22% and properties ‘Sold’ by +17.8%.  In April the Property Activity Index reviewed the regions performance over a rolling three month period.  Figures showed that demand for property was increasing faster than supply and this month the statement remain the same, with a +11.30% increase on properties ‘Sold’ and +9.90% on new listings ‘For Sale’.   London also reported record bests for June, figures were up by +84.5% for new listings ‘For Sale’ and by +8.3% in properties ‘Sold’.  However over a three month rolling period the regions new listings ‘For Sale’ at +38.50% outperformed properties ‘Sold’ at +5.50%.

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said: After a slowdown in May it is uplifting to see a boost in June. During last month's lull we looked to the MMR as a possible trigger and although the reports state that the property market is calming this month it seems to have resumed its usual activity. Month on month we see figures rise and fall but on a whole, with a few regional exceptions the market remains robust.

Stephen Watson, Managing Director

Looking at performance across the rest of the UK prominent regions include Central England and The South East both recording their best figures for new listings ‘For Sale’ in June since the Property Activity Index’s first records in 2007; both rising by +39.8%.  Few declines were made in June only three of the twelve regions recorded by the Property Activity Index reported a drop in sales. The North East was the greatest faller, dropping for the fourth consecutive month by -19.60%, followed by Central England -8.90% and Wales -3.60%.