Wow, I knew I was going to get a few emails from you guys when Article 50 was triggered on Wednesday, but I didn’t think I would get so many! Of-course the question is:
Has the triggering of Article 50 affected my house price in Croydon?
Remember all that noise when the news of Brexit hit us? The few days after that, the office was entirely quiet. Very few phone calls, everyone is just in shock of the vote and worried about whats going to happen. A week went by, the phone calls picked up again, confidence was growing, and within a few weeks, the office was back to full swing with buyer and seller confidence rising back to the norm. In short, uncertainty did affect the initial shock of the Brexit result, but it all fizzled out very quickly.
Now A-50 has been triggered, of-course the newspapers have written about the property market, as have many leading websites with their opinions, most of them stating that, there is no relationship between Article 50 and the property market in the UK – didn’t I say the same thing months ago?!
I strongly believe, in the long term (which was shorter than I expected) that there is no real relationship between Brexit and the property housing market. Now that A-50 is moving, we have a rough idea as to what is going on, so there is no need for any more uncertainty.
According to the Building Societies Association, 49% of consumers expect house prices to rise over the next 12 months, and only 10% expect them to fall.
What do you think? :
Brexit: A big change with little impact on the country’s property market.
I tend to agree.
As I have said before, property is – on the most part – a long term game. The rental game is not a 2 – 3 year process, rather a 10 – 15 – 20 year marathon. Property prices will rise and fall, caused by issues like Brexit, but in my opinion, property will always rise in value over the long term.
Of-course, buying at the optimum time is key to making some serious money, but that’s for another post.