GBP Drop Creates New Opportunities in European Real EstateThe ups and downs of sterling since the Brexit vote are having ripple effects throughout the UK, throughout Europe, and across global markets. This creates both challenges and opportunities for property buyers. So, what if you’re in the market to buy a home? We’ve looked to experts for their opinions on the housing market, in the UK and Europe, after Brexit.
The UK Housing MarketNot only have property sales stabilised, writes Kevin Peachey at the BBC, but house prices should increase by just more than 3 percent on average for the next five years. Two factors contribute to that stability:
- Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, tells Peachey that the Bank of England deserves credit for its quick action in cutting interest rates.
- Brian Murphy from the Mortgage Advice Bureau tells Peachey that scarcity of housing stock in the UK market “is likely to underpin the market in the months to come.”