Brexit Resolution Can Boost Property Price

UK Property Market

As the Brexit deal is closing, the property markets are showing positive trends where the brokers expect the prices to gain significantly in the post-Brexit phase, when the number of inquiries may increase and purchase deal numbers will also grow. 

They claim the vendors have adjusted prices to meet affordability, and with the support of government schemes like Help-to-Buy schemes, buyers keen to get property of their own will seek deals. The Nationwide reports of the house price index estimate the growth in February to be 0.4 per cent and the month-on-month fall at 0.1 per cent.

A survey of landlords found that investors are keen on trapping the buy-to-let market, where 39 per cent of the respondents want to expand the size of their holdings. However, brokers are expecting a rebound in such requests.  

Many brokers claim that a smooth Brexit resolution can increase properties' prices, as the current market is in good shape. In addition, overseas investments continue to gain in the UK cities - Liverpool, Manchester, and Bristol, where, recently, a Singapore-based firm acquired three student developments for £55m. 

The group, Far East Orchard, acquired a student accommodations portfolio and expanded into Bristol, Liverpool, and Brighton cities.

In February, the markets remained almost flat, while some of the weakest growth regions were London and South East. Still, the markets were positive and growing in Midlands, Wales, North, and Scotland regions, where the demand continues to increase.

Buyers Arranging Mortgages for Home Ownership

One of the highest-selling regions includes the North West of England, where tremendous improvement in property transactions has been recorded in the cities of Morecambe, Widnes, Burnley, Lancaster, and Oldham, where selling the time of property is 14 days. Livingston in Scotland has the quickest selling property that takes about 35 days to sell.

In the last few months, the Nationwide property transaction report found the number of mortgages approved or the sales were stable. There has been an increase in homeownership pushed by the growth in the number of people who own home with a mortgage. This number has been declining since 2005, but this year it is growing.

Currently, the job market supports buyers who can get a home with a mortgage. The statistics reveal that the number of such people increased 5 per cent to 6.9 million, although it was still below the record numbers in 2000.  

Employment, affordability and low borrowing costs have led to a positive market recovery. The ONS data suggests the property in some regions like East Midland grew 4.4 per cent in the last year to £192,757. The region outperformed UK markets (the average value of the UK increased by 1.7 per cent since January 2019).  

One can get the quickest selling properties in the South West – Gloucester, and in the East Midlands- Welling borough. The data by Rightmove finds that local facilities like employment opportunities, improved transportation links, and infrastructure is the key motivating factors.

To know more about UK properties, click Hamilton International Estates (www.hamiltoninternationalestates.com).

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  • Email : info (@) hamiltoninternationalestates.com
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Disclaimer - Hamilton International Estates is acting as an agent in marketing products and services for many other companies. Hamilton International Estates is not authorised to give investment/tax advice and you should seek independent financial and legal advice prior to making any investment decision. All forecasts are based on historical performance and are purely indicative. The value of your property may rise or fall. No guarantees as to future performance in respect of income or capital growth are given either expressly or by implication and nothing expressed or implied should be taken as a forecast of future performance. This is not an offer to participate in a collective investment scheme as defined in the Financial Services and Markets Act 2000 (section 235) and as such buyers have no access to statutory or regulatory protections including the Financial Ombudsman Service and the Financial Services Compensation Scheme. Hamilton International Estates is not regulated by the FCA and is not authorised to offer advice to the general public concerning any regulated or unregulated investment. Although every care has been taken to make sure that the information in this brochure / website is accurate, Hamilton International Estates cannot accept any responsibility for mistakes or omissions. You should take your own professional advice before taking or refraining from any action based on the contents of this brochure / website which are only intended as a general outline to the matters referred to in it. All content, product description and illustrations in this factsheet, brochures and website are purely marketing material provided by the companies that we work as agents for. Hamilton International Estates registered address Chiltern House Business Center, 64 High Street, Burnham, Bucks, SL1 7JT, United Kingdom, Company Registration Number 10767032 is a sales and marketing agent.