Login  |    Payment  |     |  

House sellers put off by Brexit & Election

Monday, November 18, 2019

The number of homes being put up for sale has fallen at the fastest rate in a decade, according to property website Rightmove, with Brexit and the election affecting the market.

In the four weeks to 9 November, 14.9% fewer properties came to the market compared with the same period a year earlier, which was the biggest annual fall since August 2009.

"I've seen lots of unusual events affecting the property market in my 40-year career, but a Brexit deadline followed by a snap general election six weeks later is obviously a new combination for me and for many thousands of buyers and sellers," said Miles Shipside, Rightmove director.

"A more certain outlook, whatever it may be, would be a welcome change for those who are contemplating moving.”

However, Rightmove noted that the number of sales was holding up, down just 2.9% from last year.

It also said there was good news for buyers, with asking prices of newly-listed properties down 1.3% from last month and little-changed year-on-year.