THE UK HOUSING MARKET IS "CONTINUING TO HOLD STRONG POST-BREXIT", ACCORDING TO THE CEO OF ONE OF THE UK's LEADING ESTATE AGENT
Paul Smith, the CEO of one of the UK’s leading estate agents, ‘Haart Estate Agents’ believes that the UK housing market is “continuing to hold strong post-Brexit”, reports, Property Investor Today.
Smith’s assurance was due to figures that the Office for National Statistics (ONS) revealed earlier this week which are:
The yearly rise in the prices of UK properties rose to 8.4% in August
The average price for a home in the UK was nearly £219,000 in August
By August last year, the average price of a home in the UK was up £17,000
There was a 13.3% rise in the East of England
An increase of 12.2% in the South East of England and
A 12.1% rise in London
According to Smith, this definitive data “defies the grim forecasts of a housing collapse, and tumbling prices”.
He said this about the market slowdown in capital:
“This comes as buy-to-let landlords and overseas buyers continue to venture out of the capital and into regions where they are now more likely to see more lucrative returns on their investments.”
He also mentioned his opinion about any uncertainty that continues to affect the market while expressing his interest in seeing the government put “incentives” in place to encourage home ownership:
“This is particularly important in the face of the Help to Buy Mortgage Guarantee Scheme coming to an end for first-time-buyers, placing further obstacles in generation rent’s way to stepping onto the property ladder.”
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