The events of the past couple of weeks are like no other we have seen in our generation. From the moment the UK woke to the news that the people of Britain had voted to leave the EU, it seems the country has descended into chaos. It is good to remember the UK housing market is one of the strongest and most successful in the world. Strong nerves: Buy-to-let investors in this country are made of strong stuff (they have had to be of late) and have just the right appetite for risk. The housing market, though it may stumble a little, will not be rocked to the core by this. House prices will not drop at terrifying rates. Banks will not shut up shop and call it a day. Buyers will not all suddenly back out of transactions and spend their deposits on a one-way trip to Australia. In short, let’s not lose our heads. Yes, we may see buyers become a little cautious, perhaps waiting a short while until the chaos calms down. Indeed, we may well see a boost in tenant demand as those who were planning to buy their own home decide to rent for a little longer while any uncertainties surrounding their employment are ironed out. Yes, house prices may dip a little as a result of the unknown. The past few years have shown us how prone prices are to fluctuation. Need some help? If you are looking for a new or re-mortgage please do get in contact and one of our qualified advisers will be happy to assist.
