BBC News

House buying 'steady after Brexit'

Related Topics
  • Brexit
image copyrightPA

Uncertainty surrounding the Brexit vote failed to hit house buying in the UK, figures suggest, with a slight rise in transactions in August.

A total of 109,630 properties were bought in the UK during the month, a very slight rise on a year earlier, HM Revenue and Customs data shows.

In these cases the house buying process may have started some time before the referendum took place.

Mortgage data has shown some signs of a post-vote slowdown.

The Royal Institution of Chartered Surveyors (Rics) recently said that the UK housing market had "settled down" after the Brexit vote, with sales and prices expected to rise in the coming months.

Jeremy Duncombe, director of the Legal and General Mortgage Club, said that the lack of properties being built and on the market was the most significant factor for the market.

"Until the supply and demand for UK property is better balanced, we will be left with a housing market that is only within reach for the few and unattainable for many," he said.

Where can I afford to live?

Related Topics