First Time Buyer
Property sales down after Brexit
Monthly residential property transactions fell by 0.9% in July, according to HMRC, but experts say the market has been resilient against the uncertainty surrounding Brexit.
The latest government data on housing transactions showed that the seasonal drop against 2015 was more substantial this year, as deal numbers fell 8.3% to total 94,550 in July.
However, Doug Crawford, CEO of My Home Move, said the market had largely shaken off short-term uncertainty associated with the UK’s decision to leave the EU on 23 June.
“Following the referendum there was talk that the market would be quickly affected by the outcome, but these fears have been allayed with residential transactions falling by just 0.9% month-on-month.”
Stephen Smith, director, Legal & General Housing Partnerships, added: “Whilst there has been a slight fall in transactions this month, we shouldn’t jump to any conclusions and pin the blame entirely on the vote to Brexit. Though some buyers may have held off on purchasing a property ahead of the referendum, it’s important to remember that transactions have remained static for some time now, and that the seasonal lull we typically see over the summer months is also likely to have played a role.”
There are 0 Comment(s)
Your right to a refund if travel is affected by train strikes
There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...
Could you save money with a social broadband tariff?
Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.
How to help others and donate to food banks this winter
This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
DIY investors: 10 common mistakes to avoid
For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.
Mortgage down-valuations: Tips to avoid pulling out of a house sale
Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?
Five tips for surviving a bear market mauling
The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...
Money Tips of the Week
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 300 High Holborn, London WC1V 7JH, Company.