Brexit is on the horizon and as summer slips away and autumn draws near, everyone is asking what will happen to the housing market. Perhaps it isn’t that hard to predict, despite all of the unknowns. The market is currently holding its own against the forecasts of doom and gloom. It seems that few took into consideration that there are hopeful home buyers that see the current state of things as nothing more than an opportunity to take advantage of and realize their dream of becoming a homeowner.

There are some areas in the UK that are seeing impressive house price growth. First time buyers have been returning to the market and lenders are still being competitive with low interest rates attached to their mortgages and remortgages.

There continues to be a low supply of homes coming onto the market and that is causing a slowdown in some areas. Yet, in those were buyers are sluggish the home sellers are becoming more aggressive and are lowering their asking prices.

According to Rightmove, the average asking price for a UK residential property advertised on their website declined by 0.2% in July. This came after an increase of 0.3% in June. The year on year comparison saw a decline of prices by 0.2% against July 2018.

Miles Shipside, Rightmove director, remarked, “The housing market fundamentals remain largely sound in many parts of the country, but the current political climate means that the crucial ingredient of confidence has been impaired, and that is causing some potential buyers and sellers to hesitate.”