Housing market '˜on the up'

THE Royal Institution of Chartered Surveyors has reported that the property market has ground to a halt due to political uncertainty.

However, according to a residential property expert, the slowdown in sales and falling house prices may be short-lived.

Mark Scott works for Portsmouth-based law firm Blake Morgan.

Mark said that he thinks things are about to turn around.

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Mark said: ‘We too have seen a slowdown in the housing market in June and July and I believe this is a combination of Brexit which will continue to have a long-term effect on all aspects of our economy for some time.’

‘However, I think this trend may be short-lived as August has already been busier, with an increase in new instructions, and some feel now is actually a good time to buy a property for a long-term investment.’