Article 50 has been activated by the United Kingdom prime minister, but what does leaving the EU (European Union) truly mean for property holders in the London area and those striving to get on the ladder?
For the vast majority of the nation, Brexit will have little impact on house costs. In a significant part of the United Kingdom, homebuyers are moving because either for jobs or an expanding family; this implies costs will hold up in a lot of those regions. While demand likely to stay high and there aren’t enough houses being built, the value of property will keep rising in most areas.
A buoyant in London property market depends on the United Kingdom’s economic health, which is quite difficult to forecast. If (1) the pound weakens further, (2) inflation surges, and (3) interest rates are raised, the capacity for house price growth would be reduced.
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