Rightmove reports usual spring buoyancy weighed down by Brexit uncertainty

Usual spring buoyancy weighed down by Brexit uncertainty

  • The average price of property coming to market rises by just 0.4% (+£1,287) this month, as the traditionally busier spring market gets off to a subdued start:
  • Lowest average monthly rise at this time of year since 2011, though London is the main drag
  • Prices remain more buoyant outside London with nine out of 11 regions seeing new-to-the-market sellers pricing higher
  • More buyers hesitating as Brexit goes to the wire:
  • Number of sales agreed by estate agents in February was 7% below same period in 2018, compared with the 4% annual fall recorded in January
  • Search activity on Rightmove remains steady, indicating home movers are keeping a watching brief which could lead to an eventual bounce if and when uncertainty abates
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