Latest Brexit delay = Annual rate of house price growth drop below 1%

April 12, 2019

Founder and CEO of Yomdel, Andy Soloman, commented:

“A Halloween Brexit is probably quite appropriate as any deal that does materialise will be a Frankenstein’s monster, pieced together from various deals along the way.

In the meantime and given the damage already sustained by the UK market as a result of political uncertainty, this latest extension could bring a further scare to UK homeowners, as the rate of house price growth looks set to remain stagnant until the end of October at least.

We’ve already seen the annual rate of growth fall from upwards of 7% since the vote to just 1.7% currently and with this further delay, there’s a very good chance that this could slip below the 1% threshold.

A smoother exit would certainly be preferable and so if utilised properly, this extension could enable a quick return to form for the UK market in the long-run. In the short-term expect more lethargy across the market, a continued adjustment in asking price expectations, flat levels of transaction growth and erratic movement in sold prices.”

 

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Estate Agent Talk

Real Estate Lawyers: Who They Are and What They Do?

When you want to purchase or sell a property, the best course of action would be to seek help from professionals. Real estate transactions usually involve huge sums of cash, so the legal protocols are there to ensure your security and prevent you from falling victim to fraud. Hiring a real estate attorney is essential,…
Read More →
Breaking News

Weekly News Roundup – 03/05/24

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   Table of Contents Is Zoopla holding back the housing market? Will Yardi’s multi-million gamble on WeWork the former £37Bn Unicorn pay off? Nimbus report gives oversight on retail market post Covid   Is Zoopla holding back the housing market?…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker – 02/05/24

Matt Smith, Rightmove’s mortgage expert said: “Next week’s Bank of England meeting will be quite key for setting the tone for mortgage rates leading into summer. An uneasy few weeks for the world economy has meant that there is still a lot of uncertainty around when we might see the first interest rate cut – and…
Read More →
Estate Agent Talk

Powering Up Your Brokerage: How Real Estate Apps are Transforming the Industry

The real estate industry once literally hand-to-hand with traditional printed flyers and face-to-face meetings became digital-friendly after the revolution of technology. Among the key drivers of this transformation is the real estate app through which brokerages redefine the role they perform and the way they interact with clients. Streamlined Workflows and Increased Efficiency Gone are…
Read More →
Breaking News

Breaking Property News – 02/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X. Is Zoopla holding back the housing market? Maybe it is me! and definitely me and my dog Zara do not think like most people, but – each month in the UK just 100,000 properties complete (exchange) and in the past decade this has been the…
Read More →
Breaking News

Breaking Property News – 01/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Fine & Country relaunches Masterclass Series for 2024 to support network in winning more business Set to take place in both London and Huddersfield, Fine & Country will be hosting informative and engaging Masterclass sessions again this year, sharing insight from property experts on…
Read More →