New data on Friday revealed that the average price of real estate transactions last year was highest during the summer season.
Research by estate agent comparison website GetAgent.co.uk shows the average price of a property transaction last year peaked at £265,546 in the summer. This figure is 20.5% higher than the spring average of 220,366 pounds, according to the data.
Unrest over Brexit has depressed property prices across the country, but new data from GetAgent.co.uk suggests further hardship is to come as winter approaches.
Data shows average sales prices fell by 7.7% to £244,984 between summer and autumn last year, and by 17.4% in the winter.
Transaction volumes also fell by 1.8% from summer to autumn, then by 1.1% from autumn to winter, according to GetAgent.co.uk.
Colby Short, founder and CEO of GetAgent.co.uk, said: “While dark clouds of political uncertainty continue to cast a shadow over the health of the UK property market, seasonal “Trends indicate that prices and transactions will fall further.” Data within the statement.
“Seasonal fluctuations are a factor that affects many areas of the business, not just real estate, but when combined with an already uncertain environment, it can make mediocre market conditions look much worse than they actually are,” says Founder and CEO The CEO continued.
“Home sellers will not welcome any more difficult times to sell for the price they want, but those with a Brexit silver bullet related to road names in the autumn and winter will find themselves and the price for their home should be able to overcome the darkness and secure good housing. ”
As the extended Halloween Brexit deadline approaches, what is certain is more uncertainty. Can the UK secure a deal and prevent a disorderly exit from the European Union?
