The Brexit Property Crash

What happened to the terrible – terrible Wolverhampton property crash due to Brexit?  Sorry it never happened. Look at the figures, and they show a pretty stable housing market. The Halifax index is up 0.8 per cent over the past 12 months, the Nationwide index up 0.1 per cent and the Department for Communities and Local Government’s index up 2.5 per cent. Transactions in the last quarter of 2018 were 0.8 per cent higher than a year earlier.

People selling their properties in Wolverhampton and the West Midlands in general are not dropping their prices by massive amounts as previously predicted by the media. (London based media). No one has satisfactorily explained why the housing market should suffer from Brexit, unless you believe George Osborne’s pre referendum forecast that unemployment would surge by between 500,000 and 800,000 in the event of a Leave vote.

Will people stop moving house or buying property in Wolverhampton just because we are no longer in the EU? If you do have any questions about obtaining a mortgage to buy a property or re-mortgaging your current property get in touch and we can have a chat.

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