Wednesday 12 September 2012

House sales fall as market suffers Olympic distraction | Money | guardian.co.uk

House sales fall as market suffers Olympic distraction | Money | guardian.co.uk

The number of potential homebuyers viewing properties dipped in August as the Olympics provided a distraction, although overall sales held firm, according to the latest report by surveyors.

In the three months to August, chartered surveyors sold on average 7.5% of the homes on their books a month, a figure which has remained consistent throughout 2012, the latest Rics housing market survey said.

With the Olympic Games taking place, a net balance of 9% more surveyors reported falls in demand, compared to 4% more in July, Rics said.

Spokesman Ian Perry said: "Little changed in the housing market last month. Despite the Olympics taking centre stage throughout much of August, it didn't have any real impact on the proportion of sales going through.
Housing near the Olympic site
Although the Olympics had an impact on the number of house viewings, the proportion of sales going through remained consistent. Photograph: Graham Turner for the Guardian

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