If Brexit negotiations go well this could cause further price growth as the economy grows and we see the nation's confidence lifted, but equally, if a good deal isn't reached then the international companies who operate here or look to relocate here might change their minds, reducing the number of residents who live in the capital and again further reducing the transaction levels, which could ultimately lead to price decreases." It's therefore important that you make property decisions based on your personal situation and what you want to do, rather than gambling on how the market will play out.
Mehmet İldes, N16 Estate Agency's Director, makes an important point, stating
"Right now we may experience some uncertainty, but as the negotiations progress, we will regain some much needed stability into the housing market, as people realise that the effects of Brexit are not catastrophic and go on with their lives. We'll hopefully see transaction levels increase as a result, which are currently dangerously low and affecting price growth across the capital. He continues, "Today's events are likely to have a much more profound effect on foreign investment however, with the weakening pound expected to fuel demand from overseas buyers and investors."
Many are also speculating that today's events will mean that the Bank of England will be hesitant to increase their interest rates, in spite of the recent inflation increase. This will it will remain cheaper than ever to borrow and get on to the property ladder. For more property updates and news, keep an eye on the N!& ESTATE WEBSITE . Click here for an instant property valuation, or give us a call on 0207 249 2211
London's N16 Estate Agency is a local established independent estate agency providing a professional and friendly service to its clients. We have gained the trust of our clients by treating them as a member of our family and always welcoming them with a friendly smile. We have expanded rapidly since our launch in 2008 by our team of property experts who are enthusiastic and highly motivated. Our priority has always been to provide high-quality service and flexibility to our clients, and ensure each of our clients' needs are understood and valued. We showcase a range of properties to let and for sale throughout London. The neighbourhoods we cover range from Stoke Newington and Hackney to Dalston, Shoreditch, Haringey, and Islington, as well as Edmonton, Enfield.