For years, the capital city of London has represented the best of all increases in property value which take place within the UK housing market. If prices across the country increase 5% within a month, the value of properties in London increase 10%, and so on. This trend has made it possible for investors and property owners to capitalise and realise profits which are anything but minimal. Now, property in the capital city is suffering in value due to the Brexit vote which took place in June of this year.

Uncertainty within the housing market has created unpredictable buyer and seller sentiment across the country, but nowhere as much as in the capital city of London. Although the long term forecast for the city is positive, the short term could see some painful moments moving forward and putting time between now and the referendum.

Experts see growth in property value in London for the next two years as around zero. After impact from Brexit clears out, growth should return to the market by the year 2019.

Lucian Cook of Savills commented on the latest data from the UK housing market, saying: “The market will inevitably remain susceptible to fluctuations in buyer sentiment, but there is nothing to suggest the impact of the vote to leave will echo that of the global financial crisis.

“The summer market was slow but certainly not moribund, and the currency advantage brought international buyers back into the market."

Cook added: “We know the prime London markets have generally rebounded strongly after a period of adjustment.”