The Brexit Boom in the UK Housing Market

Feb 12, 2020

Well, it happened. After more than three long years, the United Kingdom ended its ties with the European Union. No matter which way you voted, now is a time to look to the future. Onwards and upwards, as they say. And upwards seems to be the keyword. At least it is in the property market, where the officialisation of Brexit has led to an uptick in house sales. 

Click and browse

BREXIT, brexit post, post brexit, Real estate, property market, post brexit real estate, propertyProperty portal Rightmove, where emoov advertises its listings, saw a whopping 152 million visits in January, which was a 7% increase on January 2019. The top five busiest days came between the 21st and 29th of January, with the 29th seeing a record-high amount of visitors. 

The previous record was April 24th 2019, but it was surpassed on January 29th, as 9% more people paid a visit to the portal. Overall, house hunters were spending a total of 1.17 billion minutes looking for a new home. They’d clearly taken our recent advice. 😃

Making the right move

Those extra browsing numbers aren’t merely passive web users seeing what’s on the market. The number of sales agreed in January was up an impressive 12% on the same month in 2019. The beginning of 2020 also saw the biggest year-on-year jump in any month since July 2017. 

People are clearly feeling more confident about a market that is being led by certainty, whether they voted Brexit or not. There’s no more “will they, won’t they”, and the result has provided the property market with a shot in the arm that is seeing it produce record numbers.

London dreaming

sell your property, sell, sell post brexit, brexit, property market., property industryPractically every area of the UK saw an increase. The East of England was second behind London with a 20% increase, the South East saw 19%, and the North West and East enjoyed rises of 10 and 14% respectively. 

Experts at Rightmove are crediting Brexit with the uptick. Director and Housing Market Analyst Miles Shipside said: “Home-movers have sprung into action in 2020, with a large number of agents telling us that sales and valuations have picked up significantly in their local areas.

“There’s still an imbalance, with demand growing at a faster rate than new supply and no clear sign yet of any uplift in new listings compared to this time last year, but we could see a new wave of sellers in the coming weeks.”

Sell, sell, sell

There hasn’t been a better time to sell over the last few years, and anyone thinking of putting their property on the market must be increasingly tempted to act. Demand is outstripping supply, and sellers will be entering the market in an advantageous position. 

If you’re thinking of selling your home, talk to one of our property experts. They’ll tell you everything you need to know about your local property market and recommend a price based on local forecasts. Once we’ve listed your home, our experts will be with you all the way, making sure you have a high-level of support to sell your home. 

Intrigued but need more information, check out some more emoov blogs: 

Not ready to go? 😁

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