It's difficult to predict the short and long term implications of triggering Article 50. The UK has been a part of the European Union since 1973, and many UK residents (including those in the prime of their working career) have never known a political and economic landscape without the UK being part of the EU.
Property forecasters do agree that the sold prices of homes are likely to be affected, but disagree over whether sold prices will increase or decrease.
Will Hermann, director of West Eleven, a property investment and development company in South London believes that upmarket property regions, such as Fulham, Chelsea and Knightsbridge may indeed flourish. However, Mr. Hermann does warn that other sold prices in other areas of the country may not experience the same level of property sold prices growth.
He goes on to explain that property sold prices have been affected by Brexit. The announcement of the UK leaving the European Union in 2016 did initially cause property market volatility, however any uncertainty around house sold prices has now been resolved.
Springbok Properties can compare sold prices of home in every area of the UK and provide homeowners with a valuation to attract serious buyers. To discover the value of your home, call us TODAY on: 0800 068 4015.
Overseas Property Investors
Property experts agree that Brexit will have a nominal effect on buyers from overseas, and the sold prices of UK property. Many global property investors still view the UK property market as an attractive option.
Far East investors, for example, have paid little mind to Brexit. Investors from China have a strong desire to protect their wealth in a country with a strong democracy with stringent judiciary and property laws.
The poor performance of the Euro has also had a greater impact when investors consider the sold prices of UK property. European property investors are attracted to a country like the UK with a stable currency. The pound offers this, making the sold prices of homes in the UK property market more appealing to buyers.
The long-term effects Brexit will have on the UK property market and UK house sold prices is unknown. However, there is certain room for optimism. The March figures of the Nationwide House Price Index have found that sold prices are still growing in the UK. This is good news for homeowners that wish to cash-in on their property investment and sell their homes quickly.
Springbok Properties has a portfolio of property investors. We proactively market homes to cash-rich buyers who can exchange contracts on homes in a matter of days. To find out how we can sell your home to one of our investors for no upfront costs, call us TODAY on: 0800 068 4015.