This website uses cookies to ensure you get the best experience on our website, read more. Got it!

November Property Market Update

06 November 2019

Read more

Yes we have the next twist in the Brexit tale – Will be leave, wont we leave, will we leave with a deal or without one? And so without an agreement from the politicians we head back to the polls once more. And today let me try and give you what I think are the different scenarios of what could happen next but first I’ll give you a quick thought on the market right now.

So first the market and right now it’s a simple scenario. Supply of new property is down and demand isn’t going nowhere.

RM reported this month a 13.5% reduction in sellers coming to market across the UK and for us although we haven’t seen that type of drop I can report a 3% reduction in new sellers over the last two months. But, and here is the critical thing, the level of sale have not changed and all that is doing is pushing prices higher with a 5.2% increase in the average asking price of property sold in October 2019 vs last year.

Ok so what about the Brexit and Election madness. How is the housing market going to respond. So my view is clear – we need the result that will provide the least uncertainty possible. Now the 12th of December will provide one of two results:

A clear result – Whoever that is they will be elected on their manifesto and clearly we have the extremes of leave without a deal and the other where we go back to vote again. At least with this we will have some clarity and a party able to deliver us one way or another out of this situation. 

Hung Parliament – This is the result we don’t want for the country. No clear result means no certainty, means more people sitting on their hands.

So we watch on and in the meantime will continue to deal with the unwavering demand from buyers taking advantage of some fantastic mortgage deals in the market pursuing the best of whats left in the market. 

 

Find your perfect home

Modal title

close
hello content
You've added a property to your wishlist!
Icon : Cross/close

Add, manage and save properties you like to your own personal account.
To start collecting your dream properties, create your account:

Already have an account? Sign in here

Fill in the form below if you would like our team to contact you.

Contact the Name office
Icon : Cross/close

Fill in the form below if you would like our branch to contact you with more information

Contact the Property Management office
Icon : Cross/close

Fill in the form below if you would like our branch to contact you with more information

Contact the team
Icon : Cross/close

Fill in the form below if you would like our team to contact you

Contact the New Homes team
Icon : Cross/close

Fill in the form below if you would like our New Homes team to contact you

Apply for the vacancy in
Icon : Cross/close

Please fill in all the details below and a member of of HR team will be in touch soon regarding your application.

Icon : Cross/close

How much is your property worth?
Icon : Cross/close

How much can you rent your property for?
Icon : Cross/close

To arrange a FREE Valuation and Marketing Appraisal appointment
just fill in the form below or contact your local branch

Report a repair
Icon : Cross/close

To report a repair, please select your dedicated property manager from the list below: