Activity in the property market in the UK grew by 8.4% for the year

The latest data on the real estate market of the United Kingdom published the Ministry of Taxes and Duties of Her Majesty.

The number of transactions in the property market in the UK fell slightly in July and August 2014, approximately 1.7 % fall in registered transactions compared to June 2014. Meanwhile, market activity is 8.4% higher than a year ago.

In July – August 2014 was committed 99930 of transactions in the residential property market in the UK and 9090 of transactions in the commercial real estate market.

Since the beginning of 2013 and whole of 2014, the activity of buyers and sellers in the market is growing, except for small fluctuations which are observed in seasonal periods.

Definitely the market is in its best condition since 2007.

After a very rapid start in the beginning of 2014, the summer came a slight cooling of the market and sellers have become more flexible in negotiations about the price.

In addition, a very high level of demand for real estate was finally supported by new revenues, which was on the market, which also cooled the speculative mood of the sellers.

According to the British bankers ‘ Association, mortgage lending is also steadily increasing. In August 2014, it was granted mortgage loans by 11.1 billion , which is 15% higher than a year ago.

The boom in the mortgage market has affected not only the residential sector is gaining momentum and business lending – a growing number of loans to manufacturing, wholesale and retail trading businesses.

The total numbers of crediting are the following: about 18.6 billion in August 2014 , it’s slightly lower than July but 13% higher than in August last year and the highest level of lending since August 2008, when lending amounted to 19.3 billion.

Thus, it is clear that a small decrease in activity of buyers in July – August 2014 is just a seasonal fluctuation and can not stop the powerful forward movement of the property market across the UK.

® Alice Morgan. 24.09.2014 g.

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