Brexit Delay Leads To Property Listings Increase

It is fair to say there has been an awful lot of focus on Brexit in recent years. Every aspect of life connects to the upheaval, and of course, the property market has been affected by the political changes. While the Petersfield market hasn’t been as severely affected as some areas, it is vital for residents to be aware of how the overall market is performing, especially with the latest Brexit delay.

Uncertainty harms the property market, and Brexit has left many people feeling uncertain about what is going to happen next. It is easy to see why many buyers decided against making a significant commitment, and if buyers don’t buy, vendors don’t sell, and there is no movement in the property market. This may not immediately touch the Petersfield property market, but a slowdown in house sales affects everyone.

Some buyers have decided now is the time to list their property

However, with the latest Brexit delay, which may see a decision come in October, or perhaps not, it seems as though some vendors have decided enough is enough. After the March deadline passed, a notable number of homeowners listed their house, with the April 2019 listings being 0.8% up on the April 2018 listings. This may not seem like a massive list, but in a year to year terms, it is worth considering.

Brexit sales

Also, a leading estate agent states that 49% of significant towns and cities experienced an increase in new properties coming on the market in April 2019 compared to March 2019. London was immune to the positivity, perhaps suggesting there is still a significant concern in the capital about what lies ahead, but in many places across the country, there was a sizable rise in property listings.

Many areas have experienced a sizable increase in listings on a month to month basis thanks to Brexit delay

For the month on month figures, Stevenage experienced a 69.4% increase in listings while Salford saw 43.8% more homes available to buy. Chichester witnessed a rise of 33.8% in listings while King’s Lynn welcomed 33.3% more homes on the market. Other areas seeing a sizable increase in the month on month listings include:

  • Ipswich rising by 22.5%
  • Gloucester increasing by 20.1%
  • Carlisle rising by 19.8%
  • Warrington witnessing a rise of 17.6% in listings

There is growing positivity about the market, especially with concerns about a No Deal Brexit subsiding.

Sam Mitchell is the Chief Executive Officer of Housesimple, who released a statement, saying; “Home owners wasted little time in marketing their properties once the new Brexit date was confirmed. There was inevitably a slight lull in market activity in early April, but activity has picked up noticeably since 12 April, and although we’ve seen a more subdued spring bounce than in previous years, under the circumstances, seller numbers are at healthy levels, particularly in the North.”

Whatever move you wish to make in the property market, make an informed decision by contacting Williams of Petersfield. We are pleased to say we have helped many homeowners sell their house, and we are here to help, so get in touch.

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