‘Summer buying spree’ in the housing market ahead of Brexit

The looming Brexit deadline is spurring some home buyers into action, according to a website.

The average asking price on a home across Britain still fell by 1% or £3,192 month-on-month in August, Rightmove said, adding this was a better performance than usual for the summer holidays.

The average price tag now stands at £305,500.

The number of sales being agreed is the strongest for this time of year since 2015 and are 6.1% higher than a year ago, according to the index.

Rightmove house price index
Rightmove’s map shows price movements across Britain (Rightmove/PA)

The North East of England, the East of England and Yorkshire and the Humber are leading the way with sales over 10% higher than a year earlier, Rightmove said.

Miles Shipside, Rightmove director said: “Surprisingly there seems to be a bit of a summer buying spree, despite it normally being a quieter time of year.

“For some reason more buyers have cottoned on to the fact that it can be a good time of year to buy, with less competition from other buyers, and sellers typically more willing to accept a lower price.”

He continued: “While the end of October Brexit outcome remains uncertain, more buyers are now going for the certainty of doing a deal, with some having perhaps hesitated earlier in the year.”

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