In another report on the housing market, there are signs that perhaps Brexit is about to take a toll and hopeful home buyers might be more cautious than in months past. According to Nationwide, the average house price in August was £216,096, which is £1,567 less than reported in July.

Yet, the information released by the Bank of England for the most recent data collected, reported that in July the number of mortgages hit a two year record high.  In July, UK lenders approved 67,300 mortgages. The August data will be more revealing and should be available in a few weeks.

There is normally a boost to the housing market in the summer months. There is more time to spend outdoors and house shopping. People are more optimistic when the weather is warm and sunny, and therefore they are more likely to consider their future and take action. In addition, there are those that want to complete a move before the new school year begins and prior to the holidays.

This year there are likely many home buyers and home sellers that are looking to complete a property sale prior to the Brexit deadline of 31 October.

Because of the more assertive nature of home sellers to make a deal and the continued low interest rates, home buyers are expected to stay interested in the market. To make them take extra notice and to assist the housing market and the economy, prior to Brexit there could be an overhaul to the stamp duty. That would make getting into a property for first time buyers, or perhaps any property, more affordable. Such an opportunity could be enough to put a post-summer boost onto the market.