Brexit uncertainty "delays usual spring bounce": Rightmove

The average price of property coming to market rose by just 0.4% this month, the lowest monthly rise at this time of year since 2011, according to the latest Rightmove house price index.

Related topics:  Finance News
Rozi Jones
18th March 2019
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"While March marks the start of spring, temperatures have yet to rise in the housing market."

Rightmove says Brexit uncertainty has "delayed the usual spring bounce" with March seeing considerably lower price rises than the 0.9% average recorded over the last seven years.

The index shows that London is the main drag, with prices down by 1.1% on the previous month.

The only other region to record a monthly fall was the North East, with prices down by 1.3%.

Rightmove says search activity on the site remains steady, with the number of visits to the website staying level in the year-to-date, indicating an "eventual bounce if and when the uncertainty abates".

Miles Shipside, Rightmove director, commented: "While March marks the start of spring, temperatures have yet to rise in the housing market. Buying activity remains cooler than usual, with hesitation as some buyers await a more settled political climate.

"There’s greater resilience the further away you get from the London market, and there’s a sound bedrock of demand for the right property at the right price, reinforced by ongoing housing needs combined with cheap mortgage borrowing.”

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