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Thursday, August 11, 2016

Property market holding its breath says LSL

  • Annual price growth slows to 5.5% in July 
  • Transactions down 20% over the quarter compared to Q2 2015 
The LSL property services HPI for July admits its still too early to draw any post-Brexit conclusions. The market remains in flux, with low supply levels meeting a market place of anxious buyers, it's funny old times.

Their annual house price inflation is slowing, down from 8.9% back in February to to 5.5% for the 12 months to the end of July. 

July itself, did see the market gain slightly, with the average sale price up 0.2% or £700. 

These price gains are set amidst a slow market place with transactions levels down 20% in Q2 2016 compared with Q2 2015.

LSL director, Adrian Gill comments: 

“Brexit may well have an impact on the housing market, but it’s not showing yet. Even when it does, there will be positive as well as negative influences on the market, which clearly has some strong long-term drivers for continued house price inflation.”

John Tindale, Acadata housing analyst comments:

"Frustratingly it is still too early in the housing timeline for any definitive conclusions to be drawn about the effect on the UK’s property markets of the decision to leave the EU. Halifax in its HPI release this month stated “Overall, it remains too early to determine if there has been any impact on the housing market as a result of June’s EU referendum result”

property price lsl july16

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