The 2016 twelve-monthly pace of home prices in the Britain have slowed to 4.9% in April, it is dropped from being 5.7% the previous month In March of 2016 the yearly pace of house prices in the UK was at 5.7% and dropped to 4.9% in April. In April house prices increased by just 0.2%, this is the lowest monthly increase ever since last November. Currently the demand for commercial property has slumped to a record low. In March property owners were rushing to beat an expansion in stamp study, this resulted in the selling of residences being at a record high. Since the EU referendum were to become a certainty following the general election last May, there has been a decline in interest from from internation traders in the United kingdoms commercial property. A Britain leave from the EU would surely have a bad influence on the profitable property sector, this is what was said by 43% of surveyors; 6% suppose it would have a good effect.
Estate agents in Northampton have said that if we choose to exit the EU it will have a negative effect over the next few years, as property costs will decrease. A positive outcome of the drop in costs of houses would be that they are more affordable for first time buyers. They would profit from the minor competition for housing and rental inflation would slow down. The fall in let inflation might end up making private property owners advertise their properties.
Although several people are saying property prices will reduce if we depart the EU, although there is a debate on whether this is a negative thing. The standard house values would be at a sustainable amount, if the costs did decrease. The decline in prices would a be a positive thing for young, first time buyer’s. Things could not improve quickly for first time buyers it could over time. Although it can have a bad consequence on landlords if they have to advertise their homes, as they might not get as much as they previously could. The housing market as a whole might get worse, as the next 10 years go by. This could mean that the price of properties will rise, some up to £1m and higher. This would make things harder for first time buyers.
Brexit could swipe 25% off the standard house value. In North Wales there has been some houses dropping by 7.5% in price over the past year The price of properties in North Wales has been decreasing, in the last year, by roughly 7.5%. There would be an rise in interest rates and a major correction in the housing market, as well as inferior growth, this would additionally trigger the sudden fall in house prices. Unless you are a buy-to-let landlord or about to advertise your home, then the price of houses doesn’t affect you. Property transactions are likely to fall in the second quarter as likely buyers await the results Potential buyers will be awaiting the outcome of the falling costs, that will result in property transactions decreasing during the second quarter. There has previously been a fall in European buyers in the last 3 months; this has then contributed to a decline in prices in the capitals luxury postcodes of as much as 12% as opposed to last twelve months The lack of European buyers being concerned in United kingdom houses over the last few months, has ended up contributing to the decline of costs in capitals luxury postcodes. Certain landlords have chosen to buy smaller residences as a result of the decrease in prices, this is as smaller households are still in high demand.