Despite reports from the Register of Sasines on Dundee's property market performance in June, Tayside's market leaders reported improved activity in June 2011.
Thorntons Property Services – which has branches in Dundee, Perth, Arbroath and Forfar – says Dundee branch returns for June 2011 were encouraging.
George Solley, director of property sales at Thorntons, said: "We monitor the value of deals agreed, as they occur, an important measure against current market activity and to project actual sales which will be recorded in the months ahead. The Register of Sasines returns are, perhaps, more an indication of the actual sales activities in the market in the preceding months.
"June 2011 proved our busiest month for 2 years in Dundee. With regard to the number of properties where deals were agreed, this was up 45% on the actual number of properties involved in June 2010.
Our statistics do not suggest any significant movement in individual house prices but rather shifting activity across the various price bands. This can , of course, influence the average house price statistic when activity moves towards the higher or lower end. This does not mean house prices in general have moved up or down, however.
Much depends on the availability of mortgage funds to those who are ready and willing to buy. June has been reported as a 13 month high for the number of mortgage approvals, according to Bank of England figures. Still low by comparison to normal levels and needs to improve if it is to have any serious impact.
In July, during the run up to the holiday season, we have seen a reduction in the number of new properties coming to the market which in turn influences general market activity. July is short of the June high, but that was anticipated.
We are anticipating increased activity once the holiday season passes and we move into the late summer/autumn market.
Issued by Beattie Communications on behalf of Thorntons Solicitors.
Contact: Kimberley Hamilton, Tel 01698 787878