The price of London residential sales has risen for the first time since 2017, indicating that the property market affected by Brexit has shown signs of improvement
According to the property website Rightmove announced on Monday, the new seller’s selling price rose by 1.2% year-on-year, only 0.1% month-on-month, the smallest August drop since 2006.
Rightmove said that due to supply shortages that help support property prices, the number of new sellers has decreased by nearly 11% year-on-year; at the same time, August’s sales tradition has been weak, but the market conditions in August have improved significantly, reflecting the purchase of property prices. The idea of home and sellers began to change. According to Rightmove, the UK’s national home sales in August were the highest in four years, probably because the owners sold the property before the deadline for the Brexit deadline on October 30.
Property prices across the UK have been mixed. According to Rightmove, residential listings in the southeast and southwest are below the level of a year ago; prices in the north of England, Scotland and Wales are generally below average, nowadays Shows a steady increase. The Rightmove report is from July 7 to August 10, collecting data on the sale price of more than 130,000 homes.
At the same time, the British Chancellor of the Exchequer, Sajid Javid, said in a visit to the Times that he would consider reforming the stamp duty on home sales
Foreign media alleged that the tax burden will be transferred from buyers to sellers, meaning that sellers who profit from the rise in property prices must pay higher taxes.
In fact, the UK property market has been affected by Brexit in recent years, and the London property market has been particularly affected
According to the Acadata report, property prices in London have barely risen as of June, and prices in several regions have even fallen by more than 10%. With the good labor market, wage growth is the fastest in 11 years, and British consumers have begun to get rid of the British Brexit concerns and help support the property market.