Well the summer is surprising us all, what with the tennis, then the rugby, then the cricket and now the Tour of France, the temperature is up and the property market is moving.

A very positive month all round keeping the lawyers busier as more properties go under offer and the business sentiment continues to improve.

Pricing structures and valuations are holding their own with little signs of any price inflation and as long as the vendors and landlords keep a level head it would appear this is set to continue.

As a business we are considerably up on last years viewings and deals agreed, not only true for the land and commercial property markets but also the sales and lettings of residential.

According to the RICS most recent survey on the residential market “Chartered surveyors in the UK sold on average 17.9 properties during the three months to May.

While low compared to the market peak of six years ago, it still represents the highest reading since January 2010. Furthermore, sales are expected to continue their rise over the next three months with a net balance of 35% more respondents predicting transaction levels will grow”

A key driver behind this jump in activity is the recent upturn in buyers testing the market. Interest from would-be buyers has now risen for four consecutive months and, during May. This represents the highest reading since October 2009 and is a sign that market confidence is gradually being restored.

As for the retail and commercial property market the RICS report “The high street has been struggling for some time now and the pressure doesn’t look like easing up on retailers and landlords any time soon. The generally gloomy economic picture means that pricing remains intensely competitive. And though fears of a triple dip recession have now dissipated, the flat trend in wage growth will continue to act as a drag on the high street. “(Simon Rubinsohn, RICS Chief Economist)

Significantly, other areas of the commercial property sector are beginning to look a little healthier, with tenant demand for office space and industrial units edging upwards. However, it remains to be seen whether this improvement can be sustained in the absence of a more meaningful pick-up in economic activity.

Locally in Stourbridge, Tesco move on a pace and recently we have agreed a letting of short term offices in the Old Library in Hagley Road to the retailer as a recruitment office as the run up to the opening of the store later this year.

Whilst I write this Whitbread have started demolition and the construction of the new Premier Inn and Brewers Fayre in Birmingham Street. And finally in the High Street we have recently let a superb retail unit on behalf of private clients to a new milk and ice cream bar – good for the current weather but also a sign our High Streets are not dead after all.

We have undertaken more viewings of vacant retail units in the last 2 months than we have for the last 12.

So let’s hope the sun keeps shining and the confidence keeps growing.