Selling your house is getting increasingly difficult due to the uncertainty of Brexit.
As the various factions in the House of Commons continue to scrap over the country's future relationship with the EU, buyers have been put off scooping up properties in the East of England.
According to the region's estate agents buyer enquiries, agreed sales and instructions to sell fell in February for a second month in a row.
Three quarters of respondents to RICS UK Residential Market Survey said Brexit uncertainty was slowing down market activity.
The survey also found stock levels had hit all times lows, activity stalled, and sales took longer to complete, with 30 per cent of agents reporting a slump in the number of new buyer enquiries.
Following Theresa May’s latest Brexit deal defeat, regardless of whether the UK now leaves the EU with or without a deal, the impact of further uncertainty is expected to be felt across all tenures of the housing market.
Simon Rubinsohn, RICS chief economist, said: “Although activity in the housing market continues to be weighted down by the lack of available stock, changes in the tax regime affecting property, and affordability; feedback to the latest RICS survey makes it pretty clear that the ongoing uncertainty around how Brexit will play out is the critical factor influencing both buyers and sellers.
"And with little sign that the issue will be resolved anytime soon, it could prove to be a challenging spring for the housing market and the wider economy.
“It is clear from professionals working in the market that this environment requires a greater degree of realism from those looking to move.
"A reluctance from some vendors to acknowledge the shift in the balance of power in the market will compound the difficulty in executing transactions.”
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