Elections and referendum causing uncertainty
Only just last week we had the Hometrack cities House Price Index for March 2016 telling us that City level house prices at highest quarterly growth for 12 years, in the report this was put down to seasonal upturn being boosted by investors rushing to beat the stamp duty deadline.
The outlook from here on however is not so certain, experts are claiming that there is evidence that up and coming elections, Brexit and changes to landlord tax are starting to affect the buy to let and could lead to falling house prices in the UK.
Surveyors and estate agents reportedly claim that uncertainty around Brexit is shrouding the market and many expect the number of house sales to drop.
According to a spokesman for the Royal Institute of Chartered Surveyors (RICS) “Uncertainty are part and parcel of elections and we have several coming in London – including the vote for a new mayor and local council polls as well as the referendum.
“Our members have seen house prices rise every month for three years running, but say they are starting to fall in some parts of the capital.
“The referendum and tax changes are a damper on the buy to let market in particular.”
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