Summer slowdown - new For Sale and Sold boards took big hit in August

The property market remained slow and stunted in August as the number of For Sale and Sold boards across the country dipped significantly.

According to data from Agency Express, there were 6% fewer For Sale boards put up last month and almost 4% fewer Sold boards on display.

The boards supplier says that a seasonal dip like this is expected in the height of holiday season, however the monthly decline is greater than the dip recorded this time last year.

Regionally, four of 12 UK regions recorded a rise in the number of For Sale boards last month, while only three regions reported increases in the number of properties sold.

The top performer for new listings was Scotland with a monthly rise of 7.9%, while East Anglia and Wales also posted positive figures. When it comes to Sold boards, the top performing region was again Scotland with a monthly rise of 18.9%.

The worst performers for new listings were London (-27.8%) and the East Midlands (-15.%), while the worst performers for Sold boards were the East Midlands (-14.3%) and the North East (-13.1%).

"Throughout August a seasonal adjustment is anticipated and although many regions have seen a substantial slowdown, we continue to see year on year growth albeit it at a slower rate," comments Stephen Watson, managing director of Agency Express. 

"As we move in to September our outlook remains positive and we anticipate the usual pick up in pace."

You can see the full analysis of boards throughout the UK here.