July 2015 House Price Infographic
July 2015 House Price Watch indicates house prices are up on average 0.2% in the past month and the average rate of annual house price growth has slowed to 5.5%.
House Price Infographic Highlights:
- Home sales up 10% in May vs April of this year to 67,300 which is the typical seasonal pattern for this time of year but the number of homes sold during May 2015 is down 14% on May 2015 according to LSL estimates of Land Registry data.
- Supply looks to be constricting the market with the supply of homes available for sale reported by RICS to be at its lowest level since May 2009.
- The anticipated post-election bounce has yet to materialise. Rightmove report a rise in buyer activity in the past month but the number of properties available for sale is down 8.5% on the same period a year ago.
- However, the volume of mortgage approvals for house purchases – a leading indicator of future completed house sales– was up 9.9% in April, the highest monthly rise in 14 months