Distractions such as Olympics blamed for drop in house viewings in August

The number of people wanting to view properties in August fell and industry analysts expect that this is because there were various distractions during the month, such as the hosting of the Olympic Games, which meant that people delayed seeing a home.

In the three months before August, surveyors sold around seven percent of the homes that they had available for sale, which is a figure that has been rather representative of the other months that have been seen in 2012. This information has been put together by a RICS survey that was conducted into the UK housing market.

Surveyors reported a nine percent fall in demand during the Olympic Games, which they have described as not really surprising. A spokesperson from RICS, Ian Perry, has stated, “In the housing market over the month of August there hasn’t been a great deal of change. This is despite the Olympics taking place, which while reducing the number of people viewing homes, did not really stop any sales going through.

“It is not really surprising to see that less people are viewing property, as the Olympics does act as a distraction. Despite this however we are pleased to see the demand in the housing market did hold up throughout the month.”

Generally, this year the housing market has been struggling after the stamp duty tax relief ended in March. Furthermore, the economy has weakened and the housing market has been threatened by the debt crisis that is occurring in the Eurozone.

Figures have also shown that in August housebuilders have seen a rise in profits and sales. The company Barrett Developments is expected to release strong profit figures this month and issue a special dividend for shareholders. Housebuilders have recently been focusing on building more profitable and larger family homes.