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TODAY'S OTHER NEWS

August sales market ‘not so hot’ as property board numbers dip

The property sales market took a dip last month in line with a traditional summer lull, according to Agency Express.

The boards company reports that nationally the number of For Sale boards fell by 7.8% on a monthly basis, while the number of Sold boards dropped by 6.3%.

The dip recorded last month is more significant than those recorded at the same time last year, falls of 6% and 3.6% respectively.

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Regionally, the best-performing area for new listings was Yorkshire & Humberside where there was only a dip of 0.1% in the number of For Sale boards between July and August.

Meanwhile, new listings struggled in both Scotland and the South East, with monthly drops of 13.8% and 13.3% respectively.

For properties sold, the top performing area was the West Midlands - the only area to record monthly growth at 4.5%.

The worst performing area was East Anglia with 15.5% fewer sold boards provided by Agency Express than in July. 

 

In London, new listings dropped by 7.9% on a monthly basis - a significantly better performance than in August 2018 when the number of For Sale boards dropped by almost 28%.

The number of sold boards in the capital dropped by 9.3% last month, down from a dip of 5.2% recorded last year.

"Throughout August a seasonal adjustment is anticipated and although all regions bar one have witnessed substantial slowdowns, we do continue to see year-on-year growth albeit it at a slower rate," says Stephen Watson, managing director of Agency Express.

"As we move in to September our outlook remains positive and we would expect the usual pick up in pace."

You can see the full index here.

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