Prices for property in the UK rose by 1.4% in the third quarter of 2017, which confirms the correctness of the hypothesis about the weak impact of Brexit on the housing market in the UK.
For the three months from July to September 2017 property prices in the United Kingdom saw its strongest growth since February, while the average price of residential property has reached its maximum.
The data presented in the report of the Bank, the Halifax, show that in September, the average price of property in the UK rose by 0.8% , reaching prices 225109, which is 4% higher than a year earlier.
Meanwhile, it is clear that the pace of price growth slowed.
The market the UK real estate continues to suffer from lack of objects for sale. Housing prices continue to rise due to the imbalance of supply and demand and not due to the increased demand from investors. A good level of demand in large cities is based on good data on employment and historically low interest rates on loans, making available good loans.
Recently there was quite a lot of speculation about the upcoming rate hike by the Bank of England. According to the consensus forecasts, the maximum rate increase that will go the Bank of England in the next few months, will amount to 0,25%. However, it is unlikely the rate increase will greatly affect the overall market trend. The shortage of residential property in England will continue to rule the market and, given the residual uncertainty is likely to market in 2018 will be in a sideways movement with low activity from both buyers and the sellers.
® Helen Entree. 10.10.2017 G.
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