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Uncertainty Created by Brexit could End Soon for UK Housing Market

Uncertainty Created by Brexit could End Soon for UK Housing Market

Uncertainty created by Brexit could finally be laid to rest soon as negotiations are coming to a close. Those holding off on making any kind of move within the UK housing market could be free soon. Some experts believe more than a third of all home movers are waiting to see exactly what will come of the negotiations before actually making a decision. Although uncertainty has dominated the climate within the market for months now, it could quickly come to an end.

House price growth could be the most impacted metric affected by uncertainty connected to Brexit. Overall transactions have been falling for months consecutively, fewer houses are coming on the market for sale, and estate agents are seeing fewer registrations. It all adds up to a pause in the decision making process for many in the market.

In addition to many hesitating and not committing to decisions about moving home, rising house prices have place handcuffs on many thinking about moving. First time buyers have been struggling for the last decade to scrape enough together for a down payment. Increasing house prices made it more difficult for anyone to afford moving home, even those who are well-established in life.

One area which continues to be positive ground for home owners is remortgage. Lenders remain in a competitive stance and are offering attractive deals with low interest rates, low valuation charges, and possibly cash back.

Uncertainty tethered to Brexit is a real thing, but public word that it could all be over soon has many housing experts enticed by the possibility.

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