Blame Boris! Central London transactions slump by a third during final months of 2018

first_imgProperty sales transactions in central London dropped by nearly a third during the final months of 2018, research by Winkworth has revealed.The estate agency chain says this is likely to have been caused by Brexit uncertainty, a fact laden with irony given almost 60% of the electorate in the capital voted to remain, although in several London boroughs more than 70% did so.Winkworth looked at the number of sales in central London during the final quarter of last year and compared it to the three months prior.It says the busiest part of the market recently has been one, two and three- bedroom properties, suggesting it’s mostly smaller, more affordable homes that are shifting.“Transactions have remained largely unchanged for a prolonged period since [the end of] 2016, and this steady line represents a base level of needs-based buyers who will always be in the market,” the company says.“With the ongoing political issues surrounding Brexit still showing no signs of being resolved, this could signify another weak period in Q1 2019 but will hopefully lead to a more positive outlook later on in the year, as we gain a clearer picture of the reality of the UK’s planned exit from the EU.”Other housing market indicators measured by Winkworth appear to be unmoved by Brexit; for example, per-square-foot prices rose by 3% during the final months of the year.“As we gain further clarity on Brexit and dependent on whether we leave with a deal, we should start to see an uptick in activity,” says Dominic Agace, CEO of Winkworth (pictured, above).Read more about Winkworth.Brexit central London January 31, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Blame Boris! Central London transactions slump by a third during final months of 2018 previous nextHousing MarketBlame Boris! Central London transactions slump by a third during final months of 2018Research by estate agency Winkworth reveals a worsening position in the capital as Brexit jitters continue to subdue sales in its central boroughs.Nigel Lewis31st January 20190733 Viewslast_img

Leave a Reply

Your email address will not be published. Required fields are marked *