A glimmer of hope in Brexit uncertainty

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In London Knight Frank’s latest market report suggests that the total number of prospective buyers that registered with a Knight Frank office rose 14.1 per cent in September compared to the same month last year in prime central and prime outer London. It says that this upwards trend since the summer highlights how pent-up demand is forming as buyers await the outcome of Brexit negotiations

The number of viewings undertaken before an offer is made rose to its highest level in more than five years in September in prime central London, underlining that buyers remain cautious due to the uncertain political backdrop,” the company says. “Average prices have fallen by 7 per cent since the last peak in prime outer London in July 2016. This decline more than compensates for the impact of higher rates of Stamp Duty, suggesting pricing is being kept in check by political uncertainty.”

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