SALES NEWS: Housing market remains calm after the referendum vote
So far the housing market both in East Devon and the UK as a whole appears not to be showing any adverse effects following the decision to leave the European Union.
An analysis of 750,000 homes on sale across the UK on referendum day, June 23, shows 41.5% were under offer at that time. A more recent analysis on July 6 shows an increased 771,000 homes were on the market with an almost identical 39.9% under offer.
Meanwhile the Halifax house price index shows average house prices across the country rose 1.3% in June – including a week of sales after the referendum was held.
The Bank of England governor has allowed individual banks and building societies to use more of their funds for lending – to mortgage applicants, amongst others – but repeats a warning that borrowers must ensure they do not over-stretch personal and family finances.
Locally, we at East of Exe have had similar experiences: both sales and lettings are performing strongly with demand and supply as we would expect at this time of year.