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Brexit drives UK housing market further down

Property Market mood is crumbling on Brexit, the data by the Royal Institution of Chartered Surveyors revealed, as homebuyers dwindle, values slump, and sales process lasts enormously long.

Photo: Reuters

To finalize a sales deal it takes 19 weeks, an all-time record in the Royal Institution’s practice of data monitoring, it said. London housing market doldrums moved further into other regions, with the data for the south-east worsening more last month, it added.

Surveyors in the British capital and the south-east involved in the survey by the Institution were nearly completely at one citing Brexit as the reason.


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