“Spring fever yet to hit the property market, but Brexit postponement set to spark flurry of completions” – Private Finance comments on HMRC Property Transactions
Shaun Church, Director at Private Finance comments:
“While spring fever is yet to hit the UK’s property market, the postponement of Brexit could be set to spark a flurry of summertime completions. Many potential buyers and sellers have adopted a wait and see approach, with first time buyers largely propping up the market over the past year, as they take advantage of the affordable mortgage deals and easing house prices that have arisen during these quieter market conditions.
“With the extension to Brexit meaning this uncertainty is unlikely to conclude for a number of months, the patience of prospective buyers and sellers is now being tested and for many has reached its limit. Home-movers that have maintained a ‘wait and see’ approach for months if not years, now face the prospect of waiting till the autumn for a clearer picture on the UK’s future outside of the EU. We’re seeing these buyers and sellers now looking to move regardless of the outcome of Brexit, which is set to bringing an uplift to market activity in the months to come.”
Kindly shared by Private Finance