Estate agents are noting a surge in both properties coming to market and the number of buyers looking for properties within the last month or so. This follows on from the announcement of the October Brexit deadline, prompting people to put their properties for sale and think about moving home after months of waiting to see what would happen on the original Brexit deadline which has been extended.
This increase in properties going on the market and the number of people looking to buy new homes is great news for the property industry, as well as the economy of The UK as a whole.
Since the signs of a softer Brexit emerged, there has been a notable rise in buyer interest. London-based Winkworth stated that there had been a 23.5% rise in sales agreed and 26.8% more interest in properties.
This equates to having almost 10 potential buyers for each new property that comes to market. This compares with just eight buyers for each new property for the first three months of 2019.
Dominic Agace, Winkworth’s Chief Executive said that they “strongly believe that sales will start to pick up this year and market confidence will resume, but to do that, sellers need to see the benefits of putting their home on the market after what has been a turbulent time for the property market”.