It’s official – Brexit gloom is over (for now)

first_imgHome » News » It’s official – Brexit gloom is over (for now) previous nextIt’s official – Brexit gloom is over (for now)Reports show both more stable economy and house hunters returning to marketNigel Lewis27th October 20160539 Views The drop in confidence delivered to the property market by Brexit following the referendum has been recovered as house hunters return to the market in significant numbers, says the National Association of Estate Agents (NAEA).Its report follows hot on the heels of the government’s economic figures, also published this morning, which reveal that Gross Domestic Product (GDP) rose by 0.5% between July and September and by 2.3% year-on-year.On the back of a clearly improving economic situation the NAEA reports a 16% rise in the number of home buyers registered with member agents, up from 287 per branch in August to 333 today.The NAEA says this returns the market to where it was in June although first-time buyers have yet to follow suit. In September 23% of sales were made to them, down from 28% during August.The figures in the report also reveal why house prices have continued to rise recently, despite Brexit worries. While each branch has over 300 buyers registered, only 40 properties are available on average, down from 41 during August.But sales are picking up, the NAEA say, rising from nine per branch in August to 12.5 per branch in September.“This month’s report proves that buyer confidence is growing, which is obviously reassuring, given that we expected uncertainty following Brexit,” says Mark Hayward, Managing Director of the NAEA (pictured).“However, it is worrying that the number of sales being made to FTBs has fallen to the lowest number in 10 months. The fact the Government’s Help to Buy housing scheme is due to close this year might pose more of a challenge for those who were relying on this to help get their foot on the property ladder.“We now look ahead to the Autumn Statement and look forward to seeing what plans the Government puts in place to assist FTBs towards their goal of homeownership.” October 27, 2016Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img

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