Positive property market remains post-referendum
The UK is performing exceptionally well following on from initial Brexit fears. New research from the Royal Institute of Chartered Surveyors (RICS) has shown stabilising property prices and predicts a rise in both the number of sales and house prices in the coming months. The announcement follows on from initial fears that the UK voting “leave” on 23rd June 2016 would have a severely negative impact on the economy.
RICS has revealed they expect house prices to continue to increase by an average of 3.3% each year for the next five years, but that the London property market may continue to stall. Despite the flailing performance from the capital, the report has cast a positive light onto a continual buoyant market. In fact, house sales and house prices are looking more promising now than they did at the very start of 2016 before the referendum took place.
The news follows on from the Bank of England chief economist announcing that property is still continuing to outperform pensions when it comes to generating a healthy return on investment. Andy Haldane, spoke out last month when he stated that “pensions ought to be the best option for retirement, but it is almost certainly property.”
Graham Davidson, managing director of Sequre Property Investment, comments on the latest findings from RICS:
“Brexit really doesn’t appear to have had the devastating impact on the property market that some predicted – quite the opposite in fact. With such an esteemed name in the industry like RICS expecting house prices and sales to increase over the coming months and years, this is a prediction that many investors can take seriously.”
“Leading figureheads have used the best tools and software available in order to produce a realistic expectation of the future of the property market, and the team at Sequre certainly echo RICS’ positivity. With our own sales enquiries for UK and international property experiencing an increase post-referendum, Brexit has not deterred those purchasing property in any way. Market conditions are fantastic for buyers.”
If you’re looking for an investment that will help you fund your retirement, contact Sequre today. Property has been proven to be the best performing asset class over the last two decades, providing better returns than pensions, cash ISAs and even stocks and bonds. To make the most of your money, find out more about buy to let by calling us on 0800 011 2277.