Brexit uncertainty hits market as sales agreed drop across all regions and new listings in even shorter supply

Average asking prices of properties new to the market have edged slightly down, Rightmove reported this morning.

While the fall is just 0.2%, equating to an average drop in the asking price of £730, Rightmove says it is the first fall at this time of year since 2010.

The portal says that there is no sign of any autumn bounce amid political uncertainty.

The number of sales agreed is down in all regions compared with a year ago. The fall of 5.5% is in marked contrast to the 6.1% rise in sales agreed that was reported by Rightmove only a month ago.

The number of properties coming to the market is also down on a year ago, by 7.8%. There are drops in all regions.

The average new asking price is £304,770, according to Rightmove. While down monthly by 0.2%, it is up by the same percentage on a year ago.

The monthly drop in average asking price also masks very different performances in the north and south.

In London, properties new to the market have price tags 2.1% cheaper than a year ago, and in the south-east, new asking prices are down 1.1%.

However in the north-west, new asking prices are up 3.5%, and in the north-east, Yorkshire and the Humber, and Wales, asking prices are up by at least 3%.

Although Rightmove presents today’s house price index as the September issue and talks about an autumn bounce, in fact the report covers the period from August 11 to September 7 – two days before Parliament was prorogued and the political uncertainty went up a gear.


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  1. Ric

    Another reason to take comfort in RM not looking for Private Listings… They would have absolutely NO certainty over their future income… Hoping people move, hoping people will pay regardless of selling…

    Social Revolution… people staying put longer, the love of climbing the property ladder fading fast… People working more from home, dictating hours, the only real reason to move, death, divorce or debt… perhaps school catchment, but those already living in the catchment not moving, they quite like where they live.

    Government should make you move when your kids finishes High School, to make room for the next years kids.

    I think it is just fact, times are changing.

    1. cybelex

      “Government should make you move when your kids finishes High School, to make room for the next years kids.”

      That’s just ridiculous, would you sell if it were your home?

      1. Ric

        Please don’t tell me you read that line as I meant it…

        If I was being serious, I would have said “The gov, should make you sell a house every 3 years…” ffs… come on.

  2. revilo

    Government should make you move when your kids finishes High School, to make room for the next years kids.

    How is one supposed to read that?

    1. Ric

      I would have read it, imagine how nice that would be for estate agents if the government made people move off popular residential developments so we (EA’s) could have the knowledge of constant properties coming to the market all the time.

      Obvs, kind of not expecting them to do that, I mean… yup fecking ridiculous when you read it back. Kind of comment you assume was not written serious. jeez…

      I wasn’t  looking to solve a placement issue at schools or anything…


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