Possible Brexit slump for the UK property market in October
October’s property market data from the Agency Express Property Activity Index, has revealed year on year declines in both new listings ‘For Sale’ at 8.1% and properties ‘Sold’ at -3.20%.
While figures for new listings may seem buoyant, historic data shows 2018’s figure to far greater at 20.7%.
This months top performer was the East Midlands while in Scotland figures for properties ‘Sold’ fell for a fifth consecutive month at -6.3%.
Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:
October’s Property Activity Index data has reported a slowdown in properties coming on to market across the UK. Traditionally the decline was expected but in 2018 we saw a significant change in this trend. This month’s regress in figures could have been a reflection of the impending Brexit decision. As we now head in to the last few months of the year, we would expect to see a further slowdown in activity. However, with our current level of activity and uncertainty looming across the nation it will be interesting to see how the seasonal slowdown compares to years previous.
To read the latest Property Activity Index report in full please click here: