With the outcome of ongoing Brexit negotiations still unknown, experts are predicting a significant bounce in the housing market, with a returning confidence even if a Brexit deal isn’t agreed. While there are a number of different factors that could have an impact in these results, it would seem to show a significant improvement in current housing stock selling.
NetAnAgent’s research also discovered an increase in confidence from potential sellers putting their homes to valuation, especially in the big cities. The study looked at the ratio of property listed vs the number of properties that proceed with selecting a valuation or instruction over the last three months. The average UK score is 19.5.
How the UK’s ten largest cities scored:
1. Edinburgh (score 36)
2. Bristol (score 32)
3. Liverpool (score 30)
4. Sheffield (score 28)
5. Birmingham (score 27)
6. Leeds (score 26)
7. London (score 25)
8. Glasgow (score 24)
9. Cardiff (score 23)
10. Manchester (score 20)
The index shows that large UK cities, on average, outperform the rest of the UK in terms of vendor confidence. Of those properties going to valuation or instruction, there has been an increase of over 10% in vendors selecting online agents compared with the previous year, bucking the usual seasonal trend and in response to the demise of Emoov and Tepilo.
Alex Thorpe, CEO of Netanagent commented: “As ever, when looking at consumer confidence there are always a number of elements to take into account. Whilst some potential vendors are more likely to request a valuation via online channels, due to time restraints or just being more online savvy, the figures seem to show that home owners wanting to sell have had enough of the waiting game. Regardless of the outcome of the protracted Brexit process, and with the possibility of an extension of Article 50 it appears, that UK sellers are ready to make their move and have been flocking to our site to get the ball rolling.”
