ehB celebrates best autumn in three years – despite Brexit

Mon 16 Dec 2019

Leamington estate agency ehB Residential is celebrating its most prolific autumn in three years – despite uncertainty over Brexit and the country’s political future!

And with the election over – whatever one’s personal feelings about the result – it is expecting a surge in demand from sellers and buyers looking to move in the New Year.

Sales in October, November and the first half of December 2019 were more plentiful than in the same period last year, which, in turn were greater than those in the final quarter of 2017, says office manager Clive Thompson.

The figures bucked the national trend according to the RICS (Royal Institution of Chartered Surveyors) monthly national residential market survey in November. That report cited a national drop in sales of nine per cent over the previous three months.

RICS analysts are predicting a pick-up in sales and prices across the UK now the election is over.

Not only is ehB celebrating an unexpectedly successful autumn, it also agreed more sales in the whole of 2019 than any other agent in the CV31 and CV32 postcode areas according to data released by property portal Rightmove.

The latest figures also follow a record August for ehB - with sales more than double those in the same month in 2018.

“The stock profile in each of the past three autumns has been broadly similar, so we can’t put this year’s perhaps surprising sales success down to a demand for different styles of properties,” explained Clive.

“It would seem that the market in Leamington and the surrounding villages has been more resilient to the Brexit effect than one would have thought. It’s particularly surprising that we sold so many properties, as this autumn the country suffered a ‘double Brexit’ period. We had the October deadline and then the recent election, which was effectively another in/out referendum.

“Of course, we’ve also worked really hard as a team to ‘get the job done’ to paraphrase something we have perhaps heard enough of by now!

“We’re now bracing ourselves for an onslaught of people who have been hanging on for certainty about the direction in which the country is heading – one way or the other – to put their homes on the market, as well as for those looking to buy.

“The Christmas and New Year period is a traditionally popular time for people to browse Rightmove, so now is the time to contact us to take steps to get your house ready for sale in January.”

The stock markets and the pound rose sharply the day after the election - with property developers such as Barratt and Persimmon seeing share prices soar by 12 per cent and 14 per cent.

RICS is predicting more stability over the first quarter of 2020 and a pick-up in sales and prices throughout the coming year.