Brexit has limited impact on UK housing market
December 03, 2018 - United Kingdom
Since the Brexit vote, average house prices have fallen in just one UK city out of 20 monitored by the Hometrack Cities House Price Index.
Published on Wednesday, the index suggests there has been “no immediate deterioration” in the outlook for prices or market activity following the vote to leave the EU.
Only one city, Aberdeen, has seen average prices fall in the two years or so since the referendum.
Even London, where there has been a sharp slowdown in activity and falling prices in many boroughs, is nearly 2% higher overall in average price terms than in June 2016.
Which cities are doing well?
Property markets in six cities have shown marked confidence in brushing off any concerns over the effects of Brexit, with annual average house price growth of 6% or more in the latest October figures.
Measured from the two years or so since the referendum, the top-performing cities are Birmingham, Edinburgh and Manchester, where prices have risen by about 15%.
Read the rest of the article @ FT.COM
Photographer: Luke MacGregor
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