Estate agent haart says the current shortage of stock in the housing market is so severe that 11 home buyers are chasing each property across its branch network.

“There are simply not enough homes to meet this strong demand,” says haart CEO Paul Smith (pictured, below).

His comments follow research done by haart among 2,000 homeowners which reveal that Brexit has so far not damaged the property market.

Home buyers

Haart’s research found that 75% of those it quizzed said Brexit had not impacted at all their decision whether to sell or buy a home recently.

16% said they were worried by Brexit but felt it would not affect their decision to move, while 3.2% were initially worried but then decided to go for it.

But only a tiny number are holding off before moving – 2.7% of vendors and 1.7% of home buyers.

“Nearly a year on from the UK’s vote to leave the EU, the UK property market remains sound,” says haart CEO Paul Smith.

“House prices are up 5.6% on the year, a world away from the 10-18% drop that the former Chancellor was plugging to middle Britain, and clearly consumer sentiment is that the ongoing negotiations are not acting as a detriment to the market.

“Our findings underline the faith that the average British homeowner has in the UK property market to remain resilient, even amidst times of political uncertainty.

“On the ground we are seeing just as many people as ever looking to get onto the property ladder. Last month data collated from across our branches found that there are 11 buyers chasing every property on the market, and there are simply not enough homes to meet this strong demand.”