House Buying Spree Is At Its Highest This Summer!

House Buying Spree Is At Its Highest This Summer!

As the Brexit deadline is fast approaching, the real estate performance in the UK is being highlighted again.

The average price of property coming to the market is down by 1.0% this August. This is better than the usual August figures, giving a 1.2% increase in the annual rate.

The new sellers are being pointed out as one of the reasons since they have a more pressing need to sell properties at lesser prices to attract more buyers. It has also been observed that this year than the previous summers, with 6.1% of the number of sales agreed on compared to the last year.

An increase in sales was also seen in all regions. With North East up by 13.6%, East of England up by 12.7% and Yorkshire and the Harbor by 10.1%.

However, one of the problems property buyers face after the purchase is the delay in the process of moving the agreement to the binding reality of legal completions and the actual moving in.  The number of properties sold that has been stuck in the legal process is at its highest in the last 5 years.