House prices after Brexit
We did not want it but it’s happening. So what now? What will happen to the house prices after Brexit? And more importantly, house prices in Brighton after Brexit?
There has been a lot of current coverage to say that the economy grew on the run up to Brexit. Just yesterday on BBC2’s recurring news slot they were highlighting the pre Brexit economic growth.
“The UK economy grew by 0.6% in the three months to the end of June, as economic growth accelerated in the run-up to the vote to leave the EU.
The first point is that the Tories and Theresa May probably forced the BBC to report this (as she now holds the purse strings to the BBC).
All the major news outlets will be championing the exodus because it is very convenient to all the self serving elite that own the outlets. For example when Rupert Murdoch was asked why he opposed the EU so vehemently he is directly quoted as saying ““That’s easy, when I go into Downing Street they do what I say; when I go to Brussels they take no notice.”
He also said that ” Donald Trump as a “very able man”.
However, we know this is red herring used to keep people pro Brexit and pro Torie.
The Week reported:
“Various indices have indicated that average valuations across the whole of the UK were accelerating before the vote, primarily because of a chronic shortage of supply.” of houses in the country.
The second point is that we don’t really care what happened on the run up to Brexit. We want to know what is going to happen now to Brighton’s housing market. How will this affect house prices in Brighton after Brexit?
What will happen to house prices after Brexit?
In the short term Brighton’s housing market and economy will acclimatise to the change. Cities like Brighton and London will pick themselves up over time. If by nothing else than the renewed fervour of the Torie party, pushing any statistics thatBrexit is a good thing.
This is actually a good way to stave off/hide a recession for a while. And if there is an upturn then you can say ‘hey, we were right all along.
It does however help to keep consumer spending up. Making house vendors keep their prices ‘pre brexit‘.
House buyers looking to catch a bargain have limited time of uncertainty to play on before the media create a tsunami of positive economic news that will eventually find buyers clambering over each other again.
This media swell will:
Keeps people spending money
Keeps business owners employing people
Keep house prices from dropping too far.
Because, the general consensus is that we are on the way up. In one sense this will help a lot.
But compared to the rest of the world we have taken on a huge amount of economical damage. Compared to where we were…
The very rich own the stock market an dictate interest rates. The banks still create 93% of the money in the country. They do not own it but it they create it out of thin air.
When they lend too much eventually the debts cannot be repaid and that leads to businesses closing, people losing jobs and a housing market crash in Brighton and a recession.
This is what happened in 2008-2009 and nothing has changed in the way banks operate.
A lot of Brighton removals companies were involved in downscaling for companies.Office relocation into smaller premises. A lot of Brighton removals were also moving people into smaller homes that they could afford to rent and buy.
Brighton house prices pre Brexit
“Terraced properties sold for an average price of £445,505, while semi-detached properties fetched £382,024. Brighton, with an overall average price of £363,800, was similar in terms of sold prices to nearby Kemp Town (£368,230) and Brighton Marina (£349,629), but was cheaper than Preston Park (£398,126).
Our house prices have already dropped and they will continue for some time. At the Brighton removals company we have already begun downsizing offices and homes across the city. As we are so close to London we are usually first to feel the aftershocks so if we take a closer look at their situation we can possibly gleam what is to come.
The guardian has reported:
“Brexit may be the trigger to end London’s seven-year house-price boom as companies move employees out of the UK, forcing sales of high-end properties, the company’s real estate analyst Marc Mozzi said in a note to clients. ”
House prices after Brexit are already falling. It went on to say:
“Savills, the estate agent, was less gloomy. It said London sellers were already adjusting prices, interest rates are expected to stay low and the pound’s fall could attract overseas investors to buy property.
But overseas investment won’t really start to until they know the pound has reached rock bottom. Then there will be a mad scramble and a significant upturn in the economy.
We are going to have more market uncertainty until we get a grip of the country’s country’s rudder.
Until then we will face more housing price drops.
If you need to move due to Brexit get in touch via our contact page or our quote form
If you would like to talk more about your house prices after Brexit then get in touch.