House prices in Liverpool have stabilised two months after Britain voted to leave the European Union, according to a local agent.

Keppie Massie branch manager Debra Beach made the claim following the release of Nationwide’s latest House Price Index, which suggests prices across the UK rose by 6% year on year in August despite Brexit and the Stamp Duty increase.

She says: “Prices have remained relatively stable. The initial few weeks after Brexit saw a downturn in activity as people, expectedly, put plans on hold whilst they waited for industry, and indeed world, reaction.

“For us it has been business as usual and we have capitalised on our investor base, particularly with overseas buyers who are getting more for their currency with the weakened pound. The main issue now is listing enough stock, UK vendors appear to have been made very cautious and concerned regarding press reports of expected price falls, there is no evidence of this so far.

“Ironically this caution, leading to short fall in stock levels, is precisely the issue which could cause a stutter in the market. Both vendors and purchasers alike should be encouraged by the August figures.”

Another local agent, Andrew Louis, is said to have seen an increase in property sales since the referendum, noting that house prices in Liverpool remain cheaper than in other northern cities like Manchester.

Company CEO Louis Anastasiou says: “We have definitely seen an increase in property sales since the Brexit especially from first-time buyers, second steppers and oversea investors. Property prices in Liverpool are still cheaper compared to other northern cities such as Manchester and rental yields are a lot higher.”

The House Price Index figures for last month show a 0.6% rise nationally, a marginal increase on July’s 0.5%.

Related posts:

Agents react to first year of Stamp Duty reforms EU exit ‘could disrupt Liverpool property market’ Rules to stop Liverpool home buyers being misled are welcomed Liverpool sees strong first-time buyer sales in January Lack of supply ‘huge challenge’ for North West housing market House sellers advised to ‘act fast’ amid rising prices