Location of most reduced asking prices revealed

Michael Lloyd

October 11, 2019

residential property transactions

Homesellers in Bradford dropped their asking prices by the largest amount since the Brexit vote, estate agent comparison site GetAgent has found.

In Bradford, homesellers have revaluated their price expectations by 35.9%.

Colby Short, founder and chief executive of GetAgent, said: “There’s no doubt that Brexit uncertainty has produced perhaps the most erratic property landscape we’ve seen in some years and while there is light at the end of the tunnel, it’s hard to say just how long the tunnel is and if there is indeed an end in sight or not.

“It’s certainly not accurate to say the UK market is down and out and for the vast majority, property prices continue to creep up, albeit at a slower rate than previous years.

“However, there are certainly a notable number of areas in which Brexit has delivered a bit of a knock-out punch for property prices and a real lack of buyer demand is seeing sellers list for a lower sum and sell for even less.

“The proof of UK property is most definitely in the pudding though and once Brexit is behind us, we should see a reversal in fortunes for those feeling the brunt of our current European limbo.”

Waveney in Suffolk has also seen a decline in asking prices (22.4%), whilst the London borough of Islington has seen asking prices drop by 21.3%.

Selling prices have also dropped in a number of areas since the Brexit vote, with Bradford seeing sold prices decrease by 30.6%.

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