UK housing market hit by Brexit and election double-whammy - Rightmove survey

Dhwani Mehta FXStreet

The latest survey conducted by the UK’s property website Rightmove showed that the number of British properties put up on offer has fallen dramatically to a decade lows 10 amid Brexit and election uncertainty, per Reuters.

Key Findings:

“There were 14.9% fewer properties put on sale in the four weeks to Nov. 9 than in the same period last year.

That was the biggest annual fall since August 2009, shortly after the global financial crisis.

The average price of property coming to market rose by an annual 0.3%, in line with other measures showing house prices almost flat-lining, and the number of sales agreed was down by 2.9%.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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