Date Published 03 August 2012
An upturn in the property market has been reported by estate agency signs firm Agency Express, which also points to a slowing of the London market (see next story).
It said that sales rose by 8.7% over June, while new listings went up by 5.6%.
Of the 12 UK regions tracked, ten bucked the seasonal trend with month-on-month increases in new For Sale listings during July, the most marked being the North-East (up by 38.5%). By contrast, new listings in London tumbled 14.9%.
For Sold properties, eight regions reported positive month-on-month increases for July, with the best being the North-West (up by 19.7%). London sales were down the most, by 12.7%.
Stephen Watson, managing director of Agency Express, said: `This has been a surprising month for the UK property market, showing a month-on-month July increase in both new listings and sold properties for the first time since our index began in 2007, though there seem to be no real geographic variances.
`This upturn comes as a particularly pleasant surprise as certain factors were possibly expected to have a depressing effect on confidence within the market – our preoccupation with ‘double-dip recession’, the continuing Eurozone crisis, the Olympic Games and the slump in mortgage lending to first-time buyers since the end of the stamp duty concession.`