It may have been a different story for estate agents in the rest of the UK however as owners have headed for the beach rather than the estate agent.
According to figures, the recent heatwave may have been responsible for a drop in new property listings. Whilst the UK in general has experienced a 6% drop in new property listings in July and by 12.7% in London as people made the most the of the warm weather and held off marketing their homes.
The data shows that the number of new homeowners listing their properties fell below 67,000 in July, after surpassing 70,000 in June.
There’s no evidence to suggest that buyers and sellers are withdrawing, and even the rate rise, is unlikely to have a dramatic impact on the market. We may well see subdued seller activity in August as more hot weather is predicted, and then the hope is for a strong September as we enter the crucial Autumn period up to Christmas.
However, for sellers who might want to steal a march on the competition, putting your property on in August when stock levels are lower could pay dividends, as buyers will have less choice over the next few weeks.
