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Rightmove have confirmed that the UK property market growth remains unchanged and stable.

Rightmove director and housing market analyst Miles Shipside. announced this morning that 'The average fall in new seller asking prices at this time of year has been 1.2 per cent over the last six years, so this month’s fall is exactly in line with the long-term average.'

The logical result from Brexit uncertainty coinciding with both the seasonal slowdown and the brief lull following the first quarter buy to let surge, would be to see a vastly bigger drop if the confidence in the market was not still strong. This suggests that the pick up in values, as the residential buyers return form holidays to the market, will be inline with the general UK growth.

Nationwide house price data shows the average annual rise in house prices to be 8.1% since their records began in 1952. Prices have risen 36.4% since the start of 2009, to the tune of  5.2% p.a. showing there is still growth in the UK's average house prices expected by the statisticians.

One interesting statistic is that the larger properties advertised on Rightmove are the ones that are remaining on the market longest with an average of 74 days before attracting an acceptable offer. This is over 2 weeks longer than the equivalent timescale for two or fewer bedroom properties. This is reflected in the seller asking prices with two bedroom properties dropping only 0.5% during the summer. For perspective average asking prices dropped 0.8% last summer and 2% in 2014. The volume of enquiries on Rightmove are 4% up on July 2014, showing the BREXIT effect is not removing the confidence or buyers from the market during the typically slower holiday season.

With The Bank of England base rate dropping and lenders releasing more and more enticing products, looking to encourage borrowing, there is a great opportunity right now for securing a bargain ahead of the seasonally expected rise as the residential market returns from it's holidays shortly.

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