So much hyperbole about the ramifications of the Brexit vote on the UK property market. So much guff spoken. What we do know is:
- There is still a shortage of housing and too few houses or properties are being built
- There is excess demand from renters
- Interest rates will remain at historically low levels for even longer as a result of the increased risk of the UK going into recession
The above all means that the underlying drivers of house price rises are in place. Beyond this the uncertainty and fear surrounding the whole Brexit episode makes investing in 'bricks and mortar' more attractive than ever for many people. Investing in housing is like eating for a food addict. When they are scared they indulge to calm their nerves, when they are happy they eat to celebrate, when they are sad they buy housing to cheer themselves up.
As a nation that is still addicted to housing investment the tale of rising house prices across the UK (in this I mean outside prime London real estate) is far from over even post Brexit.
12 month rent paid upfront
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