As part of the myriad of conflicting reports that are coming out about the property market, I was interested to read a report from the Home Track Consultancy which is focussed in on England and Wales. They have advised that key indicators are showing a stagnating market with less properties coming on to the market and also a much quieter summer. I was also interested to read a recent report from the Nationwide which advised the house price growth edged up in August, UK prices being up by 0.8% but the number of mortgage approvals falling by almost 12% between January and May with a modest rebound in June.
I am still of the view that Autumn will see a gradually improving house market, with an increase in the number of properties coming on to the market. I will keep you advised of trends.Lindsay Darroch Partner – Head of Property