There has been a lot of doom and gloom in the press of late with regards Brexit and the property market. I was therefore pleased to see a more positive spin on the current news dominating subject of Brexit written by The Telegraph.
Will the property market see an upturn again once a deal has been agreed? Well according to The Telegraph’s Adam Williams it would certainly appear that this could be the case.
He states that:
“In the three years since the vote there has been a reduction in the number of homes being put up for sale, ever-growing transaction times and a decline in annual house price growth as negotiations between Britain and the European Union have dragged on.
However, with the relative certainty presented by a deal, analysts believe that buyers and sellers will soon return to the market.”
Adam further discusses the points that those that have braved the property market and decided to sell/buy have come up against increased transaction times with the national average increasing by approximately two weeks. I can only imagine that this may have put some purchasers off, caused any long chains to break and perhaps meant that some people have decided to stay put for the time being until there is more certainty within the market.
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If you wish to read the full article by The Telegraph, you can do so by clicking here. (Please note you may need to register for their website to view the full article).