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Sunday 4 December 2016

Brexit: and houseprices

Immediately after the referendum, concerns were being voiced by housebuilders:
Futures Forum: Brexit: and housebuilders in East Devon
Futures Forum: Brexit: and housebuilders in East Devon: part two

And then there were houseprices:
Futures Forum: Brexit: and house prices in Devon
Futures Forum: Brexit: and Devon has the largest fall in house prices
Futures Forum: Brexit: and house prices: "Housing market cools in first post-Brexit official figures, but prices are still soaring"

How you see the current situation depends on how you see Brexit:

Housing market outside of London 'remarkably unaffected' by Brexit vote

Rhiannon Bury 2 DECEMBER 2016 

Swathes of people leaving London each year as housing becomes too expensive means large areas of the UK have been “remarkably unaffected” by the vote to leave the European Union, the chief executive of developer Urban & Civic has said.

Nigel Hugill, whose company is masterminding huge developments in commuter hotspots such as the former Waterbeach Barracks site north of Cambridge, said demand had held up for homes despite wider uncertainty following the Brexit vote.

“The reasonable expectation is that the stronger parts of the rest of the country do much better than London in the second part of the [economic] cycle as London is seen is too expensive,” Mr Hugill said.


Housing market outside of London 'remarkably unaffected' by Brexit vote - Telegraph



Home truths: house price rises to slow to trickle as Brexit and stamp duty hit


The London market has lost its shine, experts say, and even regions seeing positive growth could be hit by further political uncertainty

Hilary Osborne Saturday 3 December 2016

Ongoing uncertainty over the manner of the UK’s departure from the EU is likely to weigh down the property market in 2017, say experts, who predict little or no growth in prices amid a slowdown in sales. The Brexit referendum result and government measures to cool the buy-to-let market have hit the property market in 2016, and are expected to keep the lid on house prices next year too.

In the immediate aftermath of the Brexit vote, the Royal Institution of Chartered Surveyors reported that large numbers of buyers and sellers had withdrawn from the market. Its most recent report showed the number of homes on estate agents’ books remaining low. Figures from HM Revenue & Customs show transactions surging in March before higher stamp duty rates were imposed on second homes, but these have now fallen to lower than in 2015. In August, for example, 96,720 sales were registered, compared with 104,280 a year earlier.

Tom Sharman, head of real estate finance at NatWest, said he expected sales to be slow going into 2017 as potential buyers and sellers awaited clarity on the EU negotiations. But he added: “High employment, tight supply and a healthy mortgage market mean a widespread decline in prices seems unlikely.”


Home truths: house price rises to slow to trickle as Brexit and stamp duty hit | Money | The Guardian
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