"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"
- Steve Anderson - Yopa
New analysis from estate agency Yopa suggests that the long-standing belief in a seasonal dip during summer may not reflect reality, with data revealing consistently high activity levels in the property market over the summer months.
Yopa reviewed four years of historic property data, focusing on the average monthly volume of both mortgage approvals and completed transactions across the four seasons.
The figures indicate that, over the past two years, summer has recorded more mortgage approvals than any other season, including autumn and winter. Even in the two years prior, summer came second only to spring for approval volumes.
When it comes to completed sales, summer also ranked as one of the most active periods of the year. For the last three years, it registered the second-highest number of transactions, trailing just behind autumn. In the year before that, it topped the chart as the most active season for transactions.
These trends challenge the perception of a quiet summer period for property activity. The data instead suggests that summer is a strong season for market engagement, with many buyers entering the market and a high number of deals reaching completion.
While autumn may often see a higher number of finalised transactions, the initial stages of those sales are likely to have occurred in summer, reflecting the delayed nature of property completions.
“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,” said Steve Anderson, national franchise director at Yopa. “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."
"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.”
