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Posted on 20th September 2016

Bottom-end post-Brexit bounce squeezes first-time buyers

  • Price of property coming to market rebounds by 0.7% (+£2,277) after falling 2.0% over previous two months
  • First-time buyers in danger of being marooned by rising prices cutting them off from home-ownership:
    • Monthly jump of 3.3% (+£6,240) in price of newly-marketed property with two bedrooms or fewer
    • New seller asking prices now almost £20,000 (+10.5%) higher than a year ago in this sector
    • Higher prices mean higher deposits and repayments, negating the benefits of falling mortgage rates
  • Broadly positive picture overall as the market continues to shake off post-Brexit vote uncertainty:
    • Seven out of 10 regions see asking price rises or standstills this month, compared with eight falls last month
    • First full week of September sees visits to Rightmove up 8% on same period in 2015
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