Premium Housing Market UpdateThe three B's - Brexit, Borrowing and the Budget dominate the housing market as Summer turns to Autumn - Brexit discussions and the deal or no deal question continue to overshadow daily news. Mortgage approvals are creeping upwards and the Chancellor's announcement that the Budget will be on Monday 29th October will create a raft of opinion as the month evolves. Will there be any significant announcements for the real estate market?
Rightmove report a 16% increase in the number of newly listed properties in the first week of September, with the traditional 'back to school' period offering more choice for prospective buyers. Data from the Land Registry indicates there is usually a slight uptick in sales in the autumn period following a hot summer. Sales in the autumn following the UK's last five hot summers (1995,1996, 2003, 2006, 2013) have increased by an average of 1.8%.
Prices across both the mainstream and prime markets remain stable according to both official house price indices and the Royal Institute of Chartered Surveyours, with little change month on month.
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