New buyer demand starts to improve

New buyer demand for homes has improved in recent week now that the uncertainty over whether the UK would leave or remain in the EU is now over, claims haart, one of the UK’s largest independent estate agents.

The company report that property transactions have increased since the outcome of the referendum was revealed, after seeing a fall of 29% on the month in June - the biggest decline on record - while Harrt also experienced quite a dramatic drop in the number of new buyers, down 7% on the month and 16% on the year.

“We are already seeing the tide begin to turn,” said Paul Smith, CEO of haart.  

While there is still a level of uncertainty due to the Brexit vote, Smith is the latest agent to state that this is unlikely to be a long term trend as the effect of the vote has not been as “great as we anticipated.”

He continued: “We are seeing sales begin to pick up once more as opportunist buyers take advantage of the situation by snapping up bargains caused by the uncertainty. Valuations have actually increased in the last couple of weeks as vendors look to get a professional opinion on the value of their home to understand what effect there has been.

But Haart’s claim that confidence is returning to the housing market contrasts with the latest survey from market research firm Gfk which shows that UK Consumer confidence has nosedived at the fastest rate in 22 years post-Brexit.