May property market bounces back
PUBLISHED: 14:11 18 May 2011 | UPDATED: 19:24 20 February 2013
The May market is witnessing a bounce back in property market activity levels, according to the latest study from Hamptons International. Already this month, traditionally the busiest period of the year, looks set to put the property market back on
The May market is witnessing a bounce back in property market activity levels, according to the latest study from Hamptons International. Already this month, traditionally the busiest period of the year, looks set to put the property market back on track.
The latest report from Hamptons, which compares monthly performance figures to provide real-time insight into the property market, has highlighted a slow-down took place in April, due to the Easter break, unusually warm weather, the Royal wedding and a series of bank holidays. These factors combined resulted in a 22 per cent drop in applicant numbers compared with the same period last year.
However early May activity has been encouraging with strong levels of new properties coming onto the market and more buyers registering to buy property. The Hamptons report highlights yet another monthly increase in the number of properties on its books, suggesting confidence is continuing to slowly return to the market.
Hamptons current activity levels:
- Applicant levels were down 22 per cent compared with April last year due to Easter and the Royal Wedding bank holiday but are now back at pre-Easter levels
- Stock levels are at a three year high and are 15 per cent higher than the same period last year
- The two-tier market which existed with London outperforming the Country regions is drawing to a close, with signs that activity beyond the M25 is picking up
Marc Goldberg, Head of Sales at Hamptons International, commented: Hot on the heels of a record month in March for Hamptons, we anticipated a slowdown in April mainly due to the Easter holidays, a Royal wedding extravaganza and a bank holiday overload. We are now witnessing a bounce back in activity in May, as people make every effort to move home before the summer months arrive. Buyers have an excellent choice of property at the moment, with property stock this month at a three-year high.
The London market has been particularly robust this year and there are now signs that this is beginning to positively impact the market outside the M25. There are more properties for sale and this is attracting more buyers onto the market. We would therefore expect activity levels to remain high throughout the late spring and into the summer.
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