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So, what might a no deal Brexit mean when it comes to house prices?
There are definitely concerns that house prices could fall and “HOUSE PRICES CRASHING!” certainly makes a good newspaper headline, however, there seems to be no real indication that any “Brexit house price crash” is on its way.
HMRC’s November 2018 figures show 100,930 properties were sold during 2018 as oppose to 101,410 the previous year. This is less than half a percent difference and again indicates that people aren’t being put off.
WHICH Consumers Association predict a similar story in that the “Blockbuster Growth” which we have seen in the last decade, may well have come to an end, but that it is highly unlikely that prices will crash in 2019.
Along with the recent Stamp Duty perks for first time buyers, is 2019 going to be a buyers’ market?! It seems so. House prices may level out and provide those currently struggling to get onto the property ladder a fighting chance.
Property experts indicate that 2019 will be “steady” but the truth is, nobody actually knows what will happen and how things will be affected – which we can understand is less than comforting.
If circumstances that you can control, all fall into place – such as your financial situation, the location of that perfect property and that you are looking to buy for the future as a long term investment, then it may just be worth it.
If you’ve got any concerns over Brexit house prices and you’re asking the question “should I buy a house after Brexit, or before?” then get in touch with us here. Our conveyancing team will be able to guide you through the process of buying a house in this period of uncertainty.
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