The 2016 annual pace of house prices in the UK have slowed to 4.9% in April, it’s decreased from being 5.7% the previous period In March of 2016 the annual pace of home prices in the UK was at 5.7% and dropped to 4.9% in April. In April house prices rose by just 0.2%, this is the lowest monthly rise ever since last November. The demand for commercial property is currently at its lowest. In March property owners were rushing to beat an escalation in stamp study, this resulted in the sale of properties being at a record high. The decline is partially due to the fact that worldwide investors have been put off as a result of the chance of the Britains exit from the European Union; since the EU referendum became a certainty international buyers have lost interest in the UKs commercial property. A Britain leave from the EU would surely have a negative influence on the profitable property sector, this is what was believed by 43% of surveyors; 6% believe it would have a positive effect.
Estates agents in Cambridge think that if we depart the EU then property values are going to fall, over the next few years. A positive outcome of the decrease in prices of homes would be that they are more reasonably priced for first time buyers. They would gain from the lower competition for housing and rental inflation would slow down. Private landlords could decide to just advertise their houses, as a result of drop in let inflation.
Several people are considering whether the descend of property costs, if we exit the EU, would be a bad thing. A drop in property prices could maybe be a positive thing, as it would bring the standard property values down to a sustainable amount. The decline in prices would a be a positive thing for young, first time buyer’s. Things may not improve immediately for first time buyers it could over time. Home owners may not be too pleased if the costs drop, as their homes can not be worth as much as they used to be and consequently might not be able to sell their house for as much. Over the next 10 years the housing market might get even worse. This means prices of properties could become even more expensive; this would result in some houses increasing above £1m. This would have a negative outcome on first time buyer’s by making things more difficult for them.
Up to 25% of your standard properties value might be taken off due to Brexit. In North Wales there has been some houses dropping by 7.5% in value over the past year The price of properties in North Wales has been decreasing, in the last year, by roughly 7.5%. There can end up being a decrease in housing prices, due to an increase in interest rates and correction in the housing market. Unless you are a buy-to-let landlord or about to advertise your home, then the cost of houses don’t affect you. Property transactions are expected to drop in the second quarter as potential buyers await the results Potential buyers will be awaiting the outcome of the declining prices, which will result in property dealings decreasing during the second quarter. There has previously been a descend in European buyers in the last three months; this has then contributed to a drop in costs in the capitals luxurious postcodes of as much as 12% in comparison to previous year The lack of European buyers being interested in United kingdom houses over the previous few months, has ended up contributing to the drop of costs in capitals luxury postcodes. Certain property owners have chosen to buy smaller households as a consequence of the fall in costs, this is since smaller residences are still in high demand.