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Sales agreed during August at highest level since 2015, claims portal

Rightmove claims sales agreed are also up by 6.1% during August compared to last year as people tire of waiting for Brexit to be sorted one way or another.

Nigel Lewis

rightmove

Despite the terrible weather battering the UK at the moment, Rightmove says the property market has been hotter than usual so far this month.

It’s latest house price index reveals that so far August has seen the highest number of sales agreed since 2015 and that market activity is up by 6.1% up on last year.

Sales agreed have increased across the UK but particularly in the North East, East of England and Yorkshire where sales agreed have jumped by 10%.

Rightmove says the average asking price of a property is £305,500, slightly down on July, driven mostly by house prices softening at the top of the market, although it claims that this is ‘usual’ for this time of the year as vendors and buyers take their summer holidays.

Purchasers are also taking the plunge as they realise it’s their last chance to get a good deal before the latest Brexit deadline takes place on 31st October.

“I think the impending Brexit deadline that is looming over us could well be having an impact on activity in the market,” says Ian Marriott of East Midlands agency FHP Living (left).

“People were more cautious at this stage last year than this year, so we’re seeing that they are getting on with their lives and pushing through with moves ahead of the October deadline.”

Rightmove spokesperson Miles Shipside, says: “Surprisingly there seems to be a bit of a summer buying spree, despite it normally being a quieter time of year.

“For some reason more buyers have cottoned on to the fact that it can be a good time of year to buy, with less competition from other buyers, and sellers typically more willing to accept a lower price.”

August 19, 2019

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