How is impending Brexit affecting the housing market?
Matters were building to a head in Parliament during August and yet the market has been buoyant. There were a record number of properties coming onto the market for sale in July, followed by a higher number for sale in August than 12 months ago. The number of properties sold equated to those in May, which were the highest number, by some way, of any other months in 2019. We have noticed a “bounce” in activity before each Brexit deadline. It happened in March and again in August, but generally we would say the market is healthy and steady, indicating that the general view is that “life must go on”. We will be watching to see what effect these recent most turbulent events in Parliament may have, but so far we have observed no noticeable effect.