Only half are confident about the housing market, survey finds

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7th September 2016 10:29 - Housing

Only half are confident about the housing market, survey finds: A recent survey by Comparethemarket – which gathered the opinions of 1,000 people who are in the process of buying or selling a home - has revealed that only 50 per cent of respondents are either extremely or fairly confident in the United Kingdom’s housing market.Only half are confident about the housing market, survey finds

As well as this, the results showed that 70 per cent said that they did not think that Britain’s vote to leave the European Union would not impact their decision to purchase a property, whilst more than three quarters (77 per cent) said that it would not stop them from selling their house.

Of the respondents, 31 per cent said that they feel the house prices may fall in the next year, when the effects of the Brexit begin to materialise.

When the respondents were questioned further, 63 per cent revealed that if they were to sell their property, they would not accept an offer of 10 per cent or more of their asking price.

Figures from estate agency, Haart, uncovered that in the first full month post-EU referendum (July) there was a 6.5 per cent rise in transactions across the United Kingdom, in comparison with June. However, the exchanged house sales in that same month were 18.2 per cent shorter than that of July 2015.

The figures also revealed that house prices have fallen since Brexit. For example, in London prices plummeted 5.6 per cent in July, which is equivalent to approximately £30,000.

Haart also discovered that throughout the whole of the United Kingdom, house prices have fallen by 0.9 per cent.

A separate survey by a removals company revealed that 13 per cent of those who planned on moving had put their plans on hold following the Brexit vote.

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