Dip in asking prices – result of Brexit?

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The typical asking price for properties entering the market reportedly are around 1.2pc lower than last month. Could we already be experiencing a dip as the result of June’s shock Brexit outcome?

Apparently not, as Director at Rightmove, Miles Shipside said, “Brexit uncertainty coincides with anticipated seasonal slowdown”. The average decrease in new seller asking price at this point in the year is 1.2pc, meaning the figures are in line with the annual average. The largest experienced decrease was 2pc in 2014, with the smallest being 0.8pc following the 2015 general election.

Rightmove also released some of their figures to provide a deeper insight into sector trends. Enquiries from potential buyers in July on the Rightmove portal were down 18pc. Although it is important to remember that at the time the industry faced a post-election boost. Compared to 2014 figures, the number of enquiries actually increased by 4pc. Buyer enquiries to estate agents were down from June by 5pc. Bovis Homes have today announced an uptake of buyer confidence gradually returning to the market. It’s worth noting though that there’s a general feeling of trepidation throughout the economy as a whole post-Brexit so now is the time to be really strategic if your business is to survive and thrive!

Estate agents must ensure they are doing all they can to generate interest from potential buyers but most importantly, they need to increase the number of valuations on their books. Due to the much discussed depleted housing stock we face currently in the UK, the really clever estate agents know that by increasing the number of houses of their books they will naturally attract more buyers.

Our estate agent websites designs are specifically designed to increase valuations with strategically placed call-to-action points and lead forms throughout. The design and layout is based on our experiences working with estate agents over the years and understanding their unique requirements. Take a look at our options here and see which better fits your business’s individual needs.

Tagged: Bovis Homes · Rightmove

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