Those close to the UK housing market have had few words for what could possibly occur after Brexit takes place. Some believe the market could begin a violent spiral downward and take months to correct itself. Others feel there could be a flourish of activity and the market completely take off with little resistance in an upward trajectory. Recent data from the month of February has revealed the market could be just running along with business as usual.

House sales data from HMRC for the month of February is official and the results indicate the market is moving along with little impact from Brexit. House transactions for the second month of the year were higher both month on month and year on year.

February house transactions totaled 101,780. This is an increase of almost 3% compared with the same month last year. The total from February of last year was 99,060.

This data is relevant within the housing market considering the impact of Brexit on many other factors within the economy. The average amount of time for a house to be sold is about twelve weeks. So, this total is from agreements on houses sold within the month of November. The month of November was quite active with debates concerning Brexit and the future of the country.

Housing experts are taking this data and realising the market is responding quite well to all the controversy surrounding Brexit. It is as if the market did not even acknowledge Brexit was happening in just a short amount of time. Other aspects of the housing market are being impacted by Brexit, but housing approvals is not one of them, according to market experts.