brexit uncertainty hinders Yorkshire housing market

The latest monthly RICS Residential Market Survey results reveal that residential sales activity in Yorkshire and Humberside is unlikely to pick-up over the next three months.

Once again Brexit uncertainty is the major factor affecting both buyer and vendor confidence, with sales expectations having weakened in many parts of the UK over the past two months.

Meanwhile, the limited amount of new stock coming onto the market remains an on-going problem as vendors await the outcome of the current Brexit impasse. However, the shortage of stock has led to a rise in house prices in August, a trend which is liklely to continue in the coming 12 months. 

Ben Furnell, Managing Director of Furnell Residential, said: "Brexit uncertainty has had a major negative affect on the property market, with no obvious signs of the situation improving any time soon.

"At Furnell we are still receiving new instructions and we are achieving sales through hard work and realistic pricing, but there is no question that conditions are challenging."