Is Brexit dampening down the property market?

As leading Liverpool mortgage brokers, True Cost Mortgages are ever watchful when it comes to market news and how changes may affect our future and current mortgage clients. This month we report that UK house price growth will continue to be somewhat “subdued” during the ongoing Brexit uncertainty, according to the Halifax.

The Halifax is the UK’s largest mortgage lender and say that property prices fell by 1.6% in March compared with average prices during February.

Although there has been some price cooling in the recent months, prices were actaully 2.6% higher in the first three months of the year compared with the same period in 2018.

Halifax says that the current average price taken from across the UK now stands at £233,181.

The Halifax went on to say that due to a general lack of seller and buyer activity does signal that prices are highly unlikely to fall sharply.

With Brexit still dominating the news headlines many buyers and sellers are holding off until it is clear which direction and the longer term effect of Brexit becomes more apparent.

Another of the UK’s largest lenders – the Nationwide said that UK house prices in March were up 0.7% compared with the prices from March 2018.

So what does all this mean to future home movers or first time buyers?

In recent months we have seen a greater choice of lending arrangements come on to the market. Clearly, lenders are not going to let Brexit uncertainty stop them lending and with a number of Estate Agents in the Liverpool area reporting an increase in buyer and seller interest, we believe that now is as a good a time as any to get those moving plans in place.

If you are looking for a mortgage broker in Liverpool that offers home movers and first time buyer’s impartial advice, contact True Cost Mortgages today to arrange your free consultation about your mortgage needs.

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