Different Reports on Brexit Affecting UK Housing Market

Different Reports on Brexit Affecting UK Housing Market

Plenty of action has started ahead of the March 2019 deadline in the European Union, especially with UK leaving, popular known as Brexit. However, questions have started to arise on the effects UK’s housing market will endure with the decision. The results would start to show with the dust settling down in a year or two, experts in bespoke kitchens in Glasgow puts forth their report. With the ups and downs in the UK’s housing market in the month of June presently, as compared to the higher results shown in May last year, Simon Rubinsohn, chief executive of RICS commented about the current scenario having an uncertainty heavily in the feedback received from several professionals working in the real estate sector.

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Different takes on present housing prices in UK

It would not be easy to determine whether the housing market in UK is being affected by the uncertainty of Brexit or it is going through bad times. The major reason, as Halifax after carrying out recent price index revealed that average house price fell by 1% in the month of June. On the contrary, Nationwide came forth with its index results, concluding that approximately 1.1% raise has been recorded in the same month.

In addition, the office of National Statistics reported a price growth of 5.6% on house prices up to April 2017. It has been an enormous increase from 4.5%, as per previous recordings.

Rightmove brought forth reports that are more positive for UK housing market. It revealed about the number of house sales agreed saw a significant rise by 4.6% in the month of June 2017. It was considerably higher with respect to the recording of June 2016.

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The director and housing market analyst at Rightmove, Miles Shipside revealed about fundamental remaining strong despite the year of shock referendum results and consequent dents in various activity levels in the housing market.



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