Despite Brexit, property prices rise in UK

British property asking prices have seen the biggest monthly rise for over a year, said Rightmove, a British top online real estate website, on Monday.

The result is based on data measured from March 10 to April 6, 2019. Statistics showed the average asking price across Britain in April was 305,449 pounds (400,662 U.S. dollars), up 1.1 percent from the previous month.

On a yearly basis, the average asking price in April dropped slightly, down by 0.1 percent, compared with the same period last year.

Rightmove Director Miles Shipside said “The rise in new seller asking prices reflects growing activity as the market builds momentum, egged on by the arrival of Easter.”

“On average, properties are still coming to the market at slightly lower prices than a year ago,” said Shipside, adding that “It’s one of the most price-sensitive markets that we’ve seen for years, with buyers understandably looking for value or for homes with extra quality and appeal that suit their needs.”

Speaking of the Brexit extension until October, usually the busiest property moving season, Rightmove said, “it is only a postponement, it lasts for long enough to relieve some of the short-term uncertainty, and so it arrives at an opportune time for the housing market.”

“No doubt there are still a lot of twists and turns to come, but this extension could give hesitating home movers encouragement that there is now a window of relative certainty in uncertain times,” Shipside said.

“We are not anticipating an activity surge, but maybe a wave of relief that releases some pent-up demand to take advantage of static property prices and cheap fixed-rate mortgages,” Shipside added. (1 British pound = 1.31 U.S. dollars)