The UK property market has seen a record increase of 2.3% month on month increase. The information was published by Rightmove and they predict signs of a post-election bounce in consumer and business confidence. This is good news for property owners in Leeds.
In addition one of the major high street mortgage lenders the Halifax has reported strong housing market activity since the election on 12th December 2019.
The increase is the biggest increase since Rightmove started collecting information in 2002 with prices up by 2.7% compared with the same period the previous year. It is suggested that the unrest in the political future of the UK resulted in homeowners being reluctant to move. This recent increase is the strongest growth since July 2018.
The housing market in Britain has been slow since the Brexit referendum in 2016 although there were some signs of this picking up just before the election.
Official data for November showed a 2.2% rise in house prices across Britain, the largest increase in a year. This news will give confidence to homeowners in Leeds and the surrounding areas who are are looking to put their properties on the market.