Connells Group Market Report Q1 2019

As we entered 2019, we saw the usual new year uplift in activity severely challenged by the ongoing Brexit uncertainty as our expected exit from the EU drew ever closer. Whilst market appraisal and instruction activity during the first few weeks of the year were positive, they soon dropped back with enquiries and applicant registrations failing to see the full seasonal uplift. Sales activity remained well below the same period in 2018. Despite this sombre start to the year, from mid-March onwards we have seen a slight improvement in market conditions.” David Livesey, GROUP CHIEF EXECUTIVE

The latest Connells Group Market Report Q1 2019 can be viewed in full here.

Pricing remains sensitive, with average asking prices for new stock entering the market in March showing a 3% reduction on March 2018. With vendors continuing to review their prices in recent months, we saw average house prices at completion for Q1 2% below Q1 2018. The outlook for house prices for the rest of the year remains dependent upon the timing and detail of our final Brexit arrangements.

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