'Brexit' Creating A Buyers Market Say Rightmove
Despite the fact that the United Kingdom is still yet to leave the European Union, the ongoing uncertainty of Brexit and the country's politics in general is, according to Rightmove, still having a big effect on the property market and in turn creating a 'Buyers Market'.
Rightmove's stats suggest that for the first time this year, the prices of new property coming to the market has dropped and whilst this is in keeping with traditionally lower prices in the second part of the year, agents area also dealing with their highest stock levels since 2015. Combine this with the current record high levels of employment, good mortgage availability and low interest rates, buyers have a lot in their favour aside from the political uncertainty.
Miles Shipside, Rightmove director and housing market analyst says "It could be a good opportunity to negotiate a relative bargain in the second half of the year, if they can set aside the continuing Brexit distractions".
And with the average time it takes to secure a buyer being at a 6 year high coupled with high stock levels all the signs are pointing towards a buyers market in the second half of 2019.
The message therefore to vendors who are looking to secure a sale in this tough market place is to be brave, and price your property aggressively in order to attract those proactive, confident buyers.