Double-whammy of Brexit and election hits UK housing market - survey [Reuters (UK)]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Reuters
Double-whammy of Brexit and election hits UK housing market - survey - Reuters 2 Min Read LONDON (Reuters) - The number of properties put up for sale in Britain has fallen by the most in any month in more than 10 years as the combination of Brexit and an election weighs on the market, a survey showed on Monday. There were 14.9% fewer properties put on sale in the four weeks to Nov. 9 than in the same period last year, property website Rightmove said. That was the biggest annual fall since August 2009, shortly after the global financial crisis. “I’ve seen lots of unusual events affecting the property market in my 40-year career, but a Brexit deadline followed by a snap general election six weeks later is obviously a new combination,” Miles Shipside, Rightmove director, said. Prime Minister Boris Johnson has called a Dec. 12 election in a bid to break a deadlock in parliament over his plan for taking Britain out of the European Union, the deadline for which has been delayed until Jan. 3
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