No sign of post-Brexit property sales slump

housing: July and August prove to be bumper months for buying and selling in Perthshire

Fears of a post-Brexit slump in the property market have failed to materialise in Perthshire.

Experts had warned of a slowing market after voters opted to leave in this summer’s EU referendum.

But a new study has shown that August was a bumper month for buying and selling in Perthshire.

The Perthshire Solicitors Property Centre (PSPC), which is made up of 22 local solicitor and estate agency firms, has announced that 100 homes changed hands last month, with a total sales value of just under £17.5 million.

This is more than the number of properties sold during any other month of 2016 and also rivals the number sold last August.

Semi-detached villas, bungalows and terraced properties are performing particularly well, with the average property going for £174,933 during August.

PSPC manager Anne Begg said: “With autumn just around the corner, we have detected some positive trends which should encourage anyone looking to sell-up this season.

“Looking at July, the value of sales was the highest of any month in 2016, with over £12 million worth of homes sold. Now, August has beaten that, which is fantastic and very promising.”

She added: “Due to an decrease in stock, which very much reflects the national picture, we are seeing that many properties are going under offer very quickly, sometimes within a few weeks and often over their valuation.

“This is particularly the case in popular, family-centred areas with mid-range properties on offer and good schools nearby.”

The latest study counters claims that Brexit would have a negative impact on the UK housing market.

It was predicted that there would be a slowdown in demand from buyers after the June vote.

In its first forecast after the referendum, estate agency Countrywide said that house prices would start falling across the country during 2016, before rising in 2018.

The group said the market would begin to cool off in the second half of this year.

This week, Nationwide Building Society said that a shortage of homes on the market had helped prevent a slump.

We have detected some positive trends which should encourage anyone looking to sell-up this season. ANNE BEGG