Property market held up well during the Olympics
13th Sep 2012
While the Olympic Games in London last month was predicted to be a positive time for retailers selling snacks and alcoholic beverages, it was feared that the attention would be bad for the property market, as fewer people looked to buy.
However, new data released by the Royal Institute of Chartered Surveyors (Rics) has shown that this is not necessarily the case, with the UK property market proving that it can be resilient in such times.
According to the organisation, while the number of people looking to actually view properties showed a slight dip, there was actually very low differences in terms of instructions and transactions.
Ian Perry, Rics spokesperson, said that little had changed when compared to the market in July.
"Despite the Olympics taking centre stage throughout much of August, it didn't have any real impact on the proportion of sales going through. Understandably, the amount of people out looking at property fell away slightly but, generally speaking, demand held up fairly well," Mr Perry added.
This shows that the property market is perhaps starting to bounce back and show some signs of life, especially when the British Retail Consortium reported recently that the vibrant e-commerce market had suffered badly during the Olympics.
Posted by Staff Writer: Robin Stenson
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