The National Association of Estate Agents (NAEA) has said that activity in the UK property market picked up again last month, albeit at lower levels than those traditionally seen during August.
The number of sales per agent, properties on agent's books and registered buyers all increased on the month, though the NAEA did suggest that Home information packs (HIPS) had a negative effect on sales.
There was a 37 per cent decrease in the number of four bedroom and larger homes coming onto the market in August, the NAEA noted – the same properties which required a Hip from August 1st onwards.
"Over the last forty years I have seen many peaks and troughs in the market and at this present time I cannot see any troughs on the horizon," commented NAEA president Stewart Lilly.
"However, the recent introduction of the second phase of Hips is likely to cause more disruption and in particular prompt a ‘wait and see’ strategy from individuals who are unsure about the full impact of the legislation," Mr Lilly added.
However, Mike Ockenden, director general of the Association of Home Information Pack Providers (AHIPP), has called such assertions "completely unfounded".
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