- Price of property coming to market falls 0.9% (-£2,647) this month, within usual expectations for the run-up to the summer holiday season.
- Buyer demand in the two weeks since the surprise referendum result is consistent with 2014 although down on 2015.
- Same period in 2015 benefitted substantially from post-election boost so enquiries this year are down 16% compared to that period.
- 2014 was not distorted by the election so is a better basis for comparison, and buyer enquiries are at the same level as the like-for-like two weeks in 2014.
- Most agents report market momentum continuing due to shortage of suitable property for sale, buyers fearful of missing out on scarce choice, and affordability and availability of low mortgage rates.
- Sellers seem undeterred – compared to the same period last year, the two weeks pre-referendum saw the number of new properties coming to market down by 8%, and the two weeks post-referendum saw them up by 6%.
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