25 Feb

Dip in UK property sales

Dip in UK property sales

There has been a slight dip in the number of residential properties being sold in the UK, although the overall trend is upward.

According to the latest figures from HMRC, residential property sales fell by 2.8 per cent between December 2015 and January 2016. However, this remains 9.7 per cent higher when compared to the same month in the previous year.

Property experts believe the ongoing certainly over the forthcoming European Union referendum may have some impact on sales in the short-term, with buyers tending to be more cautious during periods of political instability.

However, stronger markets, such as London, will continue to see activity due to the ongoing demand for homes.

"We’ve already seen a number of short-term factors impact investors’ sentiment this year, however appetite for UK property remains healthy. Chinese investors remain active in the market and negative interest rates in Japan will also benefit global real estate," explained Mark Ridley, Savills chief executive officer UK and Europe.

He added: "A referendum in June, whatever the outcome, will therefore offer investors security and enable them to plan for the long term."

Recent research from online estate agent eMoov concluded that if the UK opt to leave the European Union, then house prices could fall by up to five per cent due to uncertainly in the market.ADNFCR-1222-ID-801813374-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.