Home Science UK Property: Largest monthly increase in asking prices EVER recorded after Election...

UK Property: Largest monthly increase in asking prices EVER recorded after Election 2019

UK Property: Largest monthly increase in asking prices EVER recorded after Election 2019 1

As far as existing housing stock is concerned, many estate agents are beginning to see the green shoots of a busy spring market.

Mark Manning, managing director of Yorkshire-based estate agents Manning Stainton, observed: “There is renewed optimism because the political situation is seemingly settled; there’s a clear path forward where before there was uncertainty.

“There is more confidence now and the market is springing into life. Regionally, we have solid foundations, so our market is in a really good position and we’re expecting our sales agreed figures to be very good.

We didn’t really see much buyer urgency throughout 2019 and we desperately needed new listings, but then in December just gone, we sold more properties than in any other December since 2004.”

Jeremy Leaf, north London estate agent and a former RICS residential chairman, is also cautiously optimistic, and said that “Asking prices can be notoriously unreliable, but the Rightmove figures confirm what we have been seeing on the ground for the last month or so.

“Sellers inevitably are a little bit more optimistic at this time of year but it remains to be seen, probably by the end of January/beginning of February, whether these higher prices, much of which is driven by shortage of stock, actually turn into agreed prices and transactions.”

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