A game of ‘Wait and See’ for House Buyers due to Brexit
January 9, 2019
As Nationwide’s latest figures show for December 2018, the market continues to slow down with prices having fallen by 0.7% with properties at an average of £212,281, down from £214,044. This though conflicts with the mood shared by Halifax who stated that prices rose by 1.3% in the three months to December 2018.
As more and more property come on to the market having reduced prices and the complete uncertainly to whether the government will honour the democratic vote to leave the EU, it is sure a sensible decision for those looking to get on to / back on to the property ladder to wait and see as turmoil is definitely in the air.
A report by One Family states that:
- At least 136,000 aspiring homeowners ready to buy are holding off because of Brexit uncertainty.
- Majority (55%) of first-time buyers believe property prices will drop and they will be able to get more for their money after 29 March this year.
You May Also Enjoy
Minister Accepts Supply-Demand Pressures Increasing Rents
In response to comments by Treasury Minister, Emma Reynolds MP, that rental prices “are ultimately determined by the total supply of housing, relative to demand”, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “The Minister is right. Rents are going up because there are simply not enough properties to meet demand, and…
Read More 
The Property Redress annual report
50% of cases resolved through early resolution despite 20% rise in complaints, 56% increase in amount awarded for decisions and 31% rise in agency expulsions The annual report on complaints received against their property agent members by Property Redress is released today. In its eleventh year, the report from the UK’s largest lettings redress provider…
Read More 
Foxtons Full Year Results 2024
47% earnings growth1 driven by significant Sales market share gains2 and strong returns from Lettings acquisitions. Next phase of the growth plan now firmly in focus. Foxtons Group plc (LSE:FOXT) (“the Group” or “Foxtons”) has delivered another year of growth. Strengthened operational capabilities, combined with strong returns from Lettings acquisitions, have underpinned 47% earnings growth. The Group…
Read More 
What is commonhold? What estate agents need to know
Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP On Monday 3 March, the government published a Commonhold White Paper and announced plans to bring the sale of new leasehold flats to an end. So what does this mean for the sale of leasehold properties, both now and over the next…
Read More 
Roller Garage Doors: 7 Essential Buying Tips.
Roller garage doors vary in quality, design, and the components used. Recognising these variations is essential when making a purchase, as it ensures you choose a product that provides long-term benefits. Here are seven key factors to consider: 1. Environmental Impact For superior insulation, sectional garage doors may be a better option, even though roller…
Read More 
Glenigan Construction Index: Pockets of regional resilience, do little to offset faltering confidence
The value of underlying work starting on-site during the three months to February decreased 6% and remained 17% below 2024 levels as activity remains relatively stagnant Lowered expectations on economic recovery dent residential construction, with starts down 10% on the preceding three months, slashed by 14% against 2024 figures Non-residential project starts decreased 2% against…
Read More