- The number of sales agreed at this time of year is the second highest for ten years, only slightly lower than the high of May 2014
- However, spring price momentum stalls as price of property coming to market drops by 0.4% (-£1,172), the first fall in June since 2009 at the height of the credit crunch, and the first fall this year
- Some markets struggling against headwinds, whilst others still have tailwind despite uncertainty:
- Northern markets motoring ahead with an 11% increase in sales agreed year-on-year, compared to only a 3% increase in the South
- First-time buyer sector sees newly-listed prices surge 3.5% month-on-month and 5.5% year on year
What does this mean for you?
The market is still starting to slow down due to the season changes as spring tends to prompt more sales as people seek a new change for the new year. This is expected. However as aforementioned, there is a 3% raise in house prices in the south, so no need to worry about the decrease in housing prices.
The slight decrease in new listing prices of 0.4% could be attributed to extra competition as spring prompts moving and doesn’t suggest an overall steady decline in new listing prices,