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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.

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."

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