A game of ‘Wait and See’ for House Buyers due to Brexit
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.