The UK real estate market is showing marked differences & # 39 ;, as Mark Carney warns of no-deal Brexit

Regional gap: Northern Ireland saw some of the fastest price increases in August

National house prices have recently flattened or declined in London and the Southeast, but new data suggest that the market in many parts of the country is solid & # 39; is.

Researcher research shows a significant regional gap in the real estate market, while separate figures suggest that transactions are picking up in London, where the activity is slow.

The mixed picture of the housing market that is outlined by the reports comes as the governor of the Bank of England, Mark Carney, suggested that Brexit would cut house prices by three to thirty percent over a three-year period.

Regional gap: Northern Ireland saw some of the fastest price increases in August

Regional gap: Northern Ireland saw some of the fastest price increases in August

House price growth was strongest in Scotland and Northern Ireland in August and remained & # 39; strong positive & # 39; in Wales, the Northwest, the Midlands and also in Yorkshire and Humberside, according to a monthly survey among real estate agents from the Royal Institution of Chartered Surveyors.

However, RICS noted that the price weakness in London and the Southeast was continued, compensating for growth in the other regions and no change at national level.

In terms of activity, total sales declined across the country, with rising transactions in Northern Ireland and the South West not enough to compensate for moderate sales growth in East Anglia and the Southeast.

Looking ahead, sales earnings suggest in the near future that these regional differences will continue to exist, with the market remaining relatively stronger away from Southern England, RICS says.

But a separate report from Haart brokers suggests that the tide is turning, even in London, where prices and activities have fallen.

Real estate transactions in England and Wales reached the highest level since November 2016 according to its data. The number of buyers that joined the market was the highest in two years, Haart said.

House price growth was strong in Scotland and Northern Ireland in August

House price growth was strong in Scotland and Northern Ireland in August

House price growth was strong in Scotland and Northern Ireland in August

Their research, based on reports from 100 affiliates, also suggests that even the sluggish London market is starting to make a u-turn.

"House prices have declined slightly in the month and are flat over the year, but the transactions have risen by 15 percent compared to the month," said Haart CEO Paul Smith.

"With 20 buyers chasing behind every home on the London market, it is clear that it is a lack of equities that really keeps the market from achieving its full potential. & # 39;

The shortage of real estate that is available to buy is consistently blamed as one of the main reasons for a decline in activity.

RICS also reported a persistent lack of supply, with 15 percent of land surveyors seeing a decline in new instructions in August.

Sales activity: Northern Ireland and the Southwest have seen the strongest activity

Sales activity: Northern Ireland and the Southwest have seen the strongest activity

Sales activity: Northern Ireland and the Southwest have seen the strongest activity

RICS chief economist Simon Rubinsohn said: "It is clearly very difficult to talk about the housing market at the moment without being well aware of the striking differences in UK trends. & # 39;

He added: & # 39; Although a combination of a lack of shares and a certain degree of uncertainty, both with respect to the interest rate expectations and the Brexit, has had an impact on the activity, the general picture in these areas is still always encouraging. & # 39;

In a commentary on the RICS data, boss Russell Quirk of Emoov.co.uk said: "The prospects are far from flat across the board, but the sluggish market performance in London and the Southeast will remain the national picture as a whole. temper. & # 39;

Mr. Quirk said that since wage inflation is now equal to house price growth, a new wave of buyers will emerge.

He added: "By doing so, the historically low inventory levels that contribute to a dampened market performance will be eliminated, while house sellers will get out of their Brethit shopparts with a greater chance of a higher sales price. & # 39;

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