Home Science Chinese New Year: Year of the Rat brings post-Brexit property prosperity

Chinese New Year: Year of the Rat brings post-Brexit property prosperity

Chinese New Year: Year of the Rat brings post-Brexit property prosperity 1

The latest data on market transactions for the most recent Chinese zodiac cycle shows that total property transactions have been the highest of all during the Year of the Rat at 1,473,950.

A promising sign for the year ahead given the slower market conditions since the Brexit vote, with a notable uplift already spurred since December’s election, a trend that could continue if history is to repeat itself.

The Year of the Monkey ranks second for the most transactions, with a total of 1,324,450 over 1980, 1992, 2004 and 2016, with the Year of the Dog, Goat and Pig, again ranking high.

Marc von Grundherr, Director of lettings and estate agent Benham and Reeves, commented: “Much like the Chinese zodiac, the UK property market is cyclical in nature and while we’ve seen some dramatic market realignments in years gone by, its robust nature has ensured that market health always comes full circle and prices recover over time.

“The more recent market slowdown spurred by Brexit uncertainty has been but a mere blip in contrast and while we’ve already seen an immediate rebound since December’s election, the data suggests that the impending Year of the Rat will bring yet more market activity.

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