With everyone’s minds on the upcoming EU referendum, many voters are concerned about the impact that the upheaval will have - and has already had – on the property market.
According to the Rightmove House Price Index, the upcoming vote has slowed down the amount of listing coming on to the already stretched market, with new properties dropping by 5% on the April figures.
Owners of larger houses are most reluctant to put their homes on the market, with 6.6% fewer properties with four or more bedrooms being put up for sale compared with May 2015.
However, despite fewer properties making it to the portals, those that do are coming to market with a significantly higher asking prices, hitting a new high of £310,471, up 0.8% on April’s price. The price doesn’t appear to be putting buyers off though! Property is selling faster than ever, with the average home selling in just 57 days in May, compared to 60 in April, and 65 in May 2015.
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