How Will Brexit Affect The UK Property Market?

1. EMAIL ID: info@hamiltoninternationalestates.com Website:https://www.hamiltoninternationalestates.com/ PHONE NO: +4401628397840 The latest reports by RICS claim Brexit is challenging growth in the UK Property Market.Despite the uncertainty created by Brexit, London prime properties have been attracting buyers from overseas, mostly from the Middle East and Asia. The expectations of a drop in price amidst no deal seem to be a littletoo much. The UK Property Market has been resilient amidst geopolitical tensions, interest rate slash and political uncertainties and a general slowdown in a global economy that has been affecting all the markets and Property for sale Manchester. The decline in sales can be linked to the 2008 crash, where the prices picked up in the initial years and have flattened in lastyears’. Overseasbuying The market witnessed a boost in transactions post-Brexit deadline as many new overseas funds were seeking opportunities in the UK before Exit like Malaysia’s state-run Employees Provident Fundthatinvested $150minBritishretailerSportsDirectInternational’slogisticsfacilityinMay. ManyinternationalbuyersanticipatethecurrentBrexitslowdowninproperties isachanceto getasignificantbuyingopportunitybeforethemarketcorrection,whichwillleadtoahistoric bounce back and apartments for sale manchester citycentre. In2018,theMiddleEastUltraBetWorthbuyersinvestedover$3.3billioninLondonproperties (Knight Frank report) and some property dealers claim post-referendum the inquiries have increased. Some of the prime London properties are now 40 percent cheaper as compared to the 2014 prices.Theoverseas buyersareattractedtotheloweringpoundratesandlow-interestrates. They are also targeting the Tier 2 cities and Manchester Property Markets where the capital value is low and yields are higher as compared to London and South East and Flats for sale Manchester city centre in theUK. Stampduty

2. EMAILID:info@hamiltoninternationalestates.comPHONE NO: +4401628397840 Website:https://www.hamiltoninternationalestates.com/ The introduction of stamp duty created a set of new expenses for homebuyers who are not willingtoinvestinstampdutiesonsale andthenagain,onbuyinganewhome.Theincreasein stamp duties also affected foreign buyers. Some sellers are waiting for the new Boris Johnson governmenttoslashstampdutywhichwillallowmoresellerstoputtheirhomesonsale and commercial property for sale manchester citycentre. Affordability AffordabilityisoneofthekeyissuesinthecitylikeLondon wheretheaverage priceofhouses is £619,000—almost3timesthepricesofhomesintheEastMidlands. The price of homes in London is 13 times the average of England and Wales and the young earners are seeking opportunities in alternative regions like the property market in Manchester and Leeds. The young generation is facing unaffordability issue due to high prices in the key employment cities London and Manchester rental market and hamiltonsestates. Growingrents Itis assumedthat Brexit,orno-Brexitthemarketwillremainresilientandcontinuetogrowata slow pace this year, as the rents in the capital city are growing and the number of renters continuestoamplify.ThetotalinvestmentintheUKmultifamilysectorgrewmorethan150%in 2018 to $7.6 billion as per JLL reports, and investment volume doubled to 2 billion euros as comparedtothepreviousyear,whichshowsthemarketcontinuestoremainstrong.