Property transaction numbers plummet

New data has revealed a sharp drop in property transactions during the last three months. The average number of sales recorded by estate agents in November to January were an “unprecedented” 6% lower than the long-term average. The figures, by software platform Reapit, also found that property viewing dipped 5% during the period, while properties under offer were 8% lower than the long-term average. “Although house prices remain reasonably resilient, our research sheds light on the extent to which Brexit uncertainty has affected property transactions in the past three months,” Reapit chief executive Gary Barker said.

City AM (18/02/2019)