Aneisha Beveridge, research director at Hamptons and Connells Group, said: “This year’s Budget landed at an awkward moment in the calendar for the property market.
“Dropping so close to Christmas meant the usual post-Budget flurry of activity was more muted than we’d typically expect.
“While the headlines didn’t create concern for most buyers and sellers, the festive season inevitably stole some of the momentum.
“Most of the deals already agreed before the Budget have pushed through, with many of those delayed exchanges now getting over the line.
“But price pressures remain: the average home in England and Wales sold at a 5.5 per cent discount from its initial asking price in November, only slightly down from 5.7 per cent in October.
“Discounting remains more common than a year ago, when the typical reduction was 4.9 per cent, which suggests confidence hasn’t fully returned yet.
“Looking ahead, we expect the New Year to bring a pick-up in activity. Rate cuts, combined with strong income growth, should support both prices and transaction volumes.
“That said, prime markets may continue to lag behind the mainstream, as higher-value buyers remain more sensitive to economic and political uncertainty.”
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