What will happen to the property market after Brexit depends on how or whether Britain leaves the EU with a deal, and in that case, what type of deal? We dare say that the question of Brexit is as difficult as it is complex to answer. No one really knows what’s going to happen to the market the day when Brexit becomes reality, if it does.
We also don’t know what will happen to Brexit itself, how it will take place and how it will affect the country in general and in view of it’s economy and other fundamentals for the housing market.
The property market has stagnated since the referendum in June 2016. However, that doesn’t mean house prices have fallen – they have just risen at a slower pace. And in parts of the country, especially the north west, the rise have been significant.
Large cities always see long-term prices rise as people move there for work, lifestyle and city living. This means that short-term drops can be a great chance for an investor that can rise above the panic in the market to buy well.
Finally, it’s important to remember that the fundamentals that drive house price growth remain the same – limited supply and historically low interest rates. So it’s unlikely we’ll see a house price crash unless these factors change significantly.
