House prices are soaring because homeowners are “bored of Brexit” and want to get on with their lives, a new report says.
The average asking price on a home jumped by nearly £3,500 in April – marking the biggest month-on-month uplift in over a year – according to Rightmove property website.
It said across Britain, the average price of new-to-the-market properties increased by an average of 1.1 per cent – the biggest month-on-month increase since March 2018.
Estate agents said that “bored of Brexit” home buyers and sellers cannot keep putting their lives on hold and want to get on with moving.
The average asking price on a home is now £305,449 – which is still 0.1 per cent lower than a year ago despite the spring bounce in April.
Rightmove said it is usual to see prices increase at this time of year, but this is still the biggest increase seen for the month of April since 2016.
But it said the uncertain political backdrop continues to hold back the market, with new seller asking prices, the number of properties coming to market and the number of sales agreed all below this time last year.
Miles Shipside, Rightmove director, said: “The rise in new seller asking prices reflects growing activity as the market builds momentum, egged on by the arrival of Easter.”
“They may have already delayed for a year or two waiting for Brexit clarity, and understandably their patience is wearing thin.”
Mr Shipside said the Brexit extension could also now give hesitating home movers encouragement “that there is now a window of relative certainty in uncertain times”.