Yet while the 1.8 per cent seasonal slip actually marks the smallest November to December decline for five years, it’s not a sign of an improving outlook but rather a dramatic reduction of properties available to buy.
The new figures from Rightmove show the number of homes being listed for sale has plummeted 19 per cent compared to the same time last year, which has helped to fuel the comparatively low five-year drop in asking prices.
Wannabe buyers and property investors are therefore left with slim pickings to choose from and vendors are holding back as their homes appear to get cheaper.
“Scarcity of property coming to market helps to underpin new seller asking prices,” says Rightmove analyst Miles Shipside. “Postponement of sales is likely to be due to political uncertainty,” he adds, referring to the ongoing Brexit negotiations.
Asking prices have fallen in seven out of 12 months over the course of last year when comparing each to the corresponding month in 2017. The Royal Institute of Chartered Surveyors (RICS) has predicted that the uncertainty around Brexit is likely to continue to impact the housing market, with fewer people looking to move and sell.
“Against a backdrop of Brexit uncertainty, both buyers and sellers are cautious, which has led to a consistently sluggish market. It is clear that Brexit uncertainty is weighing on both buyers’ and sellers’ minds,” says Gary Barker, boss of Reapit – a software provider for estate agents. He insists there is a supply crisis coming to central London. Concerned about the market, there have been fewer developers than usual buying up old buildings to convert them into luxury apartments.
Shares in some of the world’s largest technology stocks plunged on November 19th, dragging the Nasdaq down by 3% to drive a wider market sell-off. The Wall Street Journal recently reported that lower demand for Apple’s new iPhones had impacted on the firms that make the handsets and components after the US company reduced its production orders.
Facebook, which is grappling with continued controversy over its handling of user data and the crisis over Russian election interference, saw its shares fall 5.7%. Apple shares are now down about 20% from their peak in October, while Facebook shares are hovering at their lowest levels in more than 18 months.
Buy2LetCars have hundreds of investors, some of which have been clients since the launch of the company in 2012 and firmly believe that Buy2LetCars offer delivers a proven Brexit-busting opportunity; the biggest return on investment in the car industry today is achieved through the funding process as opposed to selling of the car itself.
To date Buy2LetCars have helped savers and investors grow their money up to 11% per annum on an investment portfolio of close to £45million. Buy2LetCars is rated 5 Star on Trust Pilot by its investors and they boast an impressive 100% investor satisfaction rating with a 0% default to investor rating since inception.
Furthermore the Buy2LetCars leasing arm Wheels4Sure, is also rated 5 Star on Trust Pilot the highest client recommendation in in its sector of car leasing. Interestingly enough, hard to fathom but it’s the reality our leasing arm is listed at number 46, one behind our Brexit neighbours BMW . What makes this such a remarkable achievement is that ALL our cars are funded by savers and investors who have earned up to 11% per annum on their money.
Is it not high time you take advantage of 11% per annum return that is asset backed within a £58 billion a year industry in what Sky news reported as the fastest growing sector within finance? Buy2LetCars needs to have a place in your portfolio, when it’s all said and done, Brexit or not, people still need cars and you have a tried, tested and proven team in Buy2LetCars to get your money working harder now.
Calculate your desired rate of return here and then make contact for a no obligation overview from one of our leading investment consultants from the comfort of your PC/Tablet or phone.
We offer a no-obligation online presentation delivered by one of our experienced Consultants at any time convenient to yourself. Just click the button below to book your appointment.