Activity in the residential property market in the UK rose in September after the summer lull

Activity in the market of residential property in the UK rose in September 2016 in all parts of the country, showing an unexpected rise after the August lull.

However, in Scotland and Wales, the activity is still lower than a year ago and only city of England really show optimism.

The number of new houses and flats in Wales and Scotland, which arrives on the market, rose 3.5%, and the number of transactions increased by 2.8%. In September, a year earlier the corresponding figures were 4.5% and 6.9 percent. In 8 of 12 regions, the index showed an increase. The strong growth of new real estate in the market was in the North-East of England, 38.3% and at the same time sales increased by 18.3%. Good activity showed the sellers of residential property in London, where 19.9% increase in the offer.

Other regions saw more modest growth.

Sales rose 9% in Central England, 8.4% in the South East of England, 8.2% in the West Midlands and at the same rate in the East Midlands.

The largest decline in market activity recorded in Scotland, where the number of new properties fell by 3.6%, while the number of transactions decreased by 5.4%.

The fifth consecutive month reduced the number of new facilities in Wales, reaching a 10% reduction, and number of deals in Wales fell by 3.9% over the same period. However, a small September’s improvement was encouraging. Surveys confirm that consumer confidence in the market of real estate of great Britain, and lenders reduce rates and I declare the demand for mortgage lending. Real estate agencies expect a significant improvement in market activity until the end of this year.

® Helen Entree. 04.10.2016 G.

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