Brexit “relief rally” during the summer

Brexit “relief rally” during the summer

The property market is likely to stage a Brexit “relief rally” over the summer, according to Britain’s biggest property website, as it revealed signs of a bounceback in prices over the past month.

Rightmove said asking prices on its website jumped by an average of 1.1% – an increase of £3,447 – in the month to April 6 but remain 0.1% below the level of a year ago.

Asking prices are traditionally strong during the peak spring house-selling period but Rightmove said the rise over the past month was the strongest since 2016.

Recent house price data has become highly volatile, with falling transaction numbers resulting in extremely variable monthly figures.

Halifax reported that in February prices rose by an extraordinary 5.9% on the month alone. However, its March report said prices had fallen by 1.6%.

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