Cheap mortgages, a resilient economy, Brexit fatigue and an endless round of extensions have enabled the housing market to weather the storm created by the referendum far better than most commentators had predicted. And, as we reported last month, there have even been times when the market has performed above the levels of previous years.
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The former Prime Minister Theresa May announced in June 2019 several aims concerning the government’s plan for affordable homes. As part of these plans, May outlined a rise of new design standards to ensure the production of high-quality homes for the long-term. Bundled with guarantees for improved tenant’s rights, May’s new standards hoped to balance
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Even though we are now moving into one of the quieter periods of the year, there have been some interesting developments in the sales market. The latest data from NAEA Propertymark (National Association of Estate Agents) suggests the market may be shrugging off Brexit worries and is bouncing back. According to their figures, the number
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House price growth slowed to 0.6% in May, the sixth month in a row that annual house price growth was below 1%. Month on month, sold prices were down 0.2% (source: Nationwide), although, looking further forward, according to Rightmove, asking prices were up 0.9%. Overall, the market continues to be subdued, although there are some
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Brexit is beginning to resemble Groundhog Day, the same arguments going round and round with no sign of a resolution or any kind of compromise that might break the cycle. There is, however, evidence that house buyers are increasingly fed up with the ongoing uncertainty and getting on with their house moves, especially now that
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Yet again, this month, it’s all about Brexit. Fortunately, the fundamentals behind both the economy and the housing market remain strong, but it is having an effect. Confidence is down and activity is somewhat subdued for this time of year. Prices are still rising, though – up 0.7% in February (source: Nationwide). Robert Gardner, Nationwide’s
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Asking prices rose by 0.7% in February, the market picking up as spring approaches. However, there is no doubt Brexit uncertainty continues to act as a drag on prices. Annual growth remains subdued at 0.2% and there was a 4% fall in transaction volumes in January when compared to the previous year (source: Rightmove). Nationwide’s
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As Brexit becomes ever more chaotic and our bickering politicians fail to find any kind of consensus, it is impressive how well the housing market is holding up. The Christmas lull went on a little longer than usual, but things are now coming back to life, albeit somewhat unevenly. Rightmove reported a 0.4% rise in
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As expected, 2018 was a year shaped by Brexit, although its full impact was not really felt until the autumn. In fact, the housing market started 2018 in relatively brisk fashion, with prices rising by 0.6%. The figures, however, hid some wide variations across the regions. Prices fell in London, where affordability was already reaching
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With Brexit dominating the headlines, it’s increasingly difficult to ignore, especially with so much yet to be resolved. For the moment, though, it is not having as big an effect on the housing market as you might expect, especially outside of London and the Southeast. According to Hometrack, discounts on asking prices – a good
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