Website reports 44% fall in home-moving registrations across central London

Future transactions in central London appear to have crashed by 44% post-Brexit, and have fallen across the UK.

Other regions hard hit are the home counties where they are down 27%, and Northern Ireland where they are down 25%.

The figures come from the website reallymoving, which home movers use to register – typically three months before a move – for quotes on conveyancing, surveys and removals.

Four weeks after Brexit, and based on 35,000 registrations, future transactions are on average down 8% on this time a year ago. Average prices people have given on their registrations are also down 8%.

Rosie Rogers, of reallymoving, said the information looked “somewhat alarming”.

Rob Houghton, CEO of reallymoving, said: “It seems clear that Brexit has had a marked impact on the UK property market. The drop in transaction volumes has been striking, particularly in London, the Home Counties and Northern Ireland.

“In the medium term we would expect volumes to pick up if the price falls are maintained, but it is clear that many prospective home movers are sitting tight until there’s greater clarity over the post-Brexit economy and our likely new relationship with the rest of the EU.”

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