Brexit uncertainty has been relentless on the optimism level within the UK housing market. In the time since the Brexit vote, London property values have headed south and not diverted course as many have moved out of the capital city. Property values have suffered as well as opinions that it will bounce back very soon. Now, there is new evidence bounce back in property value will take place in London as well as areas just outside the capital.

There are many reasons for the latest injection of positive forecasts for the coming months and years following the official exit from the EU. GDP is expected to increase by 1.5% next year alone. Estimated growth of GDP in year 2020 is at least 2%. GDP growth is then expected to increase 2.2% in the year 2021.

There remains a house shortage crisis within the capital city and this will prove to help improve house price growth according to housing experts. Currently housing starts are scheduled to remain strong at 20,000 units per year over the next three years. By the year 2023, housing starts are expected to rise to a total of 25,000 per year. Demand for housing is expected to remain strong in the city of London will which help underpin stronger house price growth.

Although many thousands of units for residency are planned each year, this falls quite short of the goal of the Mayor of London which is 66,000 each year.

After all the dust has settled following Brexit, the latest predictions from housing experts is positive overall. Property values for a newly constructed home in Zones 1 and 2 are forecasted to grow almost 18% between the official Brexit move and the year 2023.