31 Mar '17, 7am

Buyers jumping back into UK housing market after Brexit

The impact of the Brexit has been less severe than anticipated, say experts. Some people who deferred buying a home after the Brexit vote on 23 June 2016 are jumping back into the UK property market, reported Bloomberg . Steve Victor, for instance, didn’t proceed to buy his first house the day after most of the country’s citizens voted to leave the European Union (EU). But a month later, he spent £730,000 (S$1.27 million) to purchase a new three-bedroom penthouse in London’s Surrey Quays, near the Canary Wharf financial district. “I bailed on the initial shock, but after it sank in I came to the conclusion I had to take the plunge at some point,” said the 34-year-old IT contractor. “Despite my fears, prices have already risen where I bought.” While residential prices in London declined after the vote, it rose nationwide, albeit at a slightly slower pace than before. Based ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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