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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Despite Brexit: British property market asking prices
have seen their biggest monthly rise for over a year

LONDON United Kingdom (Xinhua) -- British property asking prices have seen the biggest monthly rise for over a year, said Rightmove, a British top online real estate website, on Monday.

The result is based on data measured from March 10 to April 6, 2019. Statistics showed the average asking price across Britain in April was 305,449 pounds (400,662 U.S. dollars), up 1.1 percent from the previous month.

On a yearly basis, the average asking price in April dropped slightly, down by 0.1 percent, compared with the same period last year.

Rightmove Director Miles Shipside said:

"The rise in new seller asking prices reflects growing activity as the market builds momentum, egged on by the arrival of Easter."

"On average, properties are still coming to the market at slightly lower prices than a year ago," said Shipside, adding that:

"It’s one of the most price-sensitive markets that we’ve seen for years, with buyers understandably looking for value or for homes with extra quality and appeal that suit their needs."

Speaking of the Brexit extension until October, usually the busiest property moving season, Rightmove said:

"It is only a postponement, it lasts for long enough to relieve some of the short-term uncertainty, and so it arrives at an opportune time for the housing market."

"No doubt there are still a lot of twists and turns to come, but this extension could give hesitating home movers encouragement that there is now a window of relative certainty in uncertain times," Shipside said.

"We are not anticipating an activity surge, but maybe a wave of relief that releases some pent-up demand to take advantage of static property prices and cheap fixed-rate mortgages," Shipside added. (1 British pound = 1.31 U.S. dollars).

.
EARLIER REPORT:

British Prime Minister Theresa May on walking holiday as
her ministers seek consensus on Brexit plan with Labour

LONDON United Kingdom (Xinhua) -- British Prime Minister Theresa May has headed to the mountains of Wales with her husband as ministers in London continued to search for a Brexit breakthrough.

An official spokesperson at 10 Downing Street confirmed Monday that May had left London to go on a walking holiday.

Political commentators recalled that it was on a walking holiday in Wales in 2017 that prompted the prime minister to call a general election.

Instead of winning a bigger mandate from voters, May saw a government with a slender majority replaced by a minority government with fewer than the 326 seats needed to stay in full control.

May is not thinking about holding an election, her spokesperson is said to have told Reuters Monday.

Following the 2017 election May reached a supply and confidence arrangement with the Democratic Unionist Party (DUP) in Northern Ireland.

Their 10 MPs gave May a wafer-thin majority in the House of Commons.

The Daily Telegraph reported Monday that tensions have grown between May’s Conservative government and the DUP recently after DUP MPs at Westminster repeatedly refused to back May’s Brexit deal.

The DUP accused her of failing to stand up to the European Union on the Irish border backstop issue.

It is a failure to resolve the border issue on the island of Ireland that has caused a logjam in Brexit negotiations.

Foreign Secretary Jeremy Hunt said in a BBC interview on Monday that talks between the Conservative government and the main opposition Labour Party to find consensus over a Brexit plan are more constructive than people think.

"Talks we are having with Labour are detailed and I think more constructive than people have thought.

"They are more detailed and more constructive than people had been expecting on both sides. But we don’t know if they are going to work," Hunt said.

Cabinet Office minister and de facto deputy prime minister David Lidington said meetings between government ministers and their opposite numbers from Labour are due to continue this week.

But so far no timetables for talks have been published.

Following an extension to Britain’s departure date until Oct. 31, granted last week by the EU Council, Britain now has just 199 days to reach an agreement that will enable it to leave the bloc without facing a no-deal exit.
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SEE ALSO:

Brexit-bound UK tops global ranking for M&A appeal: biannual EY survey

             

 

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