The General Election has sparked the biggest drop in homes being put up for sale since the recession, figures show. In real terms, the number of new homes entering the market has fallen by nearly 15% in the past month, while the average property for sale has become £3,904 cheaper. This marks the largest annual fall since the depths of the financial crisis in August 2009. “I’ve seen lots of unusual events affecting the property market in my 40-year career, but a Brexit deadline followed by a snap general election six weeks later is obviously a new combination for me and for many thousands of buyers and sellers,” Miles Shipside, Rightmove director and housing market analyst said. The property website’s findings suggest homeowners are choosing to put potential moves on hold, rather than list their property for sale at a time when they fear they may not get the best price. “Elections normally dampen activity as uncertainty causes a degree of hesitation, but this one is being called to try to break the deadlock after three years of uncertainty. A more certain outlook, whatever it may be, would be a welcome change for those who are contemplating moving.” Rightmove said… Read full this story
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