It’s been almost three years since the EU Referendum and there’s not much left to be said about Brexit and the politics surrounding it. In fact, not only has the subject dominated the mainstream news but also our industry news; it is so closely linked to the UK economy that it can’t be ignored. The Government’s slow progress towards reaching a Brexit deal which keeps all parties happy means that it will continue to dominate headlines.
In the three years since the Referendum, we have seen the value of the British Pound fall and rise vs the US Dollar and Euro, stock markets feel the impact and the Bank of England increase the base rate. However, in the midst of all the doom and gloom the property market has shown strong resilience.
As the leading independent estate agents in Beaconsfield and the surrounding area, we are on the frontline – advising and guiding people through the recent economic uncertainties.
National House Prices Remain Steady
We often speak about our local area’s resilience when it comes to the impact politics has on the wider UK markets and economy; but, according to the Office for National Statistics the average UK house price has increased from £214,000 in 2016 to £228,000 in January this year.
While high value locations in London have suffered in terms of property prices, across the board UK property remains a solid investment. Even in the lead up to the Brexit deadline in March the volume of property transactions taking place is a testament to the strong activity in the market.
This is not to say there hasn’t been an element of hesitance among buyers and sellers; we have seen a number of buyers and sellers adopt a ‘wait and see’ strategy before running out of patience and moving forward with their sale or purchase. This gives us plenty of positive indications that the summer could be a busy time for buying and selling properties in the UK.
Property still a leading investment
Non-tangible assets like stocks and shares are heavily influenced by most kinds of economic or political shock. Property remains a good investment due to its historical performance and its ability to withstand uncertain climates while still offering long-term capital growth.
In a recent survey of more than 500 UK-based property investors, 64% had not seen any impact as a result of the Brexit uncertainty, and almost half of those investors had actually bought more properties since the EU Referendum.
Get in Touch
If you are interested in buying an investment property or looking to buy or sell a property in Beaconsfield and the surrounding areas, make sure you give us a call and speak to one of our experts about your options. You can call our office on 01494 680018 or email us, you can also follow us on Facebook, Twitter, Instagram and LinkedIn.