20 Aug

A subdued market emerges for July

A subdued market emerges for July

Activity in the UK housing market in terms of valuations and surveys conducted was subdued in July, according to a recent report.

Research from Connolls Survey and Valuation revealed activity across the market fell by 24 per cent compared to the previous month, but still remains 24 per cent higher than at the same point in 2014.

It is expected the month-on-month decline was likely to be a slight "blip" rather than signalling the start of a downward spiral.

John Bagshaw, Connolls' corporate services director, explained the recent General Election led to a surge in activity, which is now settling down.

"July has been a little more subdued than normal as the post-election feel good factor began to taper out. But, fundamentally, the high pace of annual growth demonstrates that the property market is strong," said Mr Bagshaw.

He added: "As wages continue to outstrip inflation, job security increases and interest rates remain at record lows, people young and old are feeling ever more confident about the property market. There’s every reason to feel very optimistic."

The report also revealed that the total number of valuations requested by current owners looking to move properties dell by 33 per cent in July compared to the previous month, but is 48 per cent higher than in July 2014.ADNFCR-1222-ID-801798149-ADNFCR

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