There’s no such thing as a summer property slowdown – claim

Contrary to popular belief that the property market stalls during the summer season, an analysis indicates that the warmer months are among the best for home buying and selling.

The study from the estate agency Yopa examined four years of historical market data, focusing on monthly averages for mortgage approvals and completed property transactions across each season.

The findings reveal that summer consistently ranks as a peak period for market activity.

Over the past two years, summer has led the way with the highest number of mortgage approvals, outpacing both autumn and winter.

Summer slowdown myth

The firm’s national franchise director, Steve Anderson, said: “It’s clear that the idea of a summer property slowdown is nothing more than a myth and, in reality, the summer season is actually one of the busiest times for the UK property market.

“Not only do more buyers enter the market in the lead-up to, and during the summer season, but more transactions naturally complete as a result of this increased level of buyer activity.”

He added: “But whilst summer may be extremely busy, the momentum that builds throughout the season tends to carry through to the autumn months.

“So, for those sellers who may not secure a buyer this summer, the chances are they won’t have to wait long before they can make their move.”

Summer sales demand

Yopa’s data shows that in the previous two years, summer secured second place for mortgage approvals, trailing only spring.

When it comes to property transactions, summer has been equally robust, claiming the second-highest volume over the last three years, just behind autumn.

Notably, in the most recent year, summer topped the charts for transactions.

The firm also highlights that while autumn may see a stronger level of transactions, many of these transactions may well have been initially agreed in the summer months.