The recent vote to leave the EU took many in the UK by surprise. The subsequent political intrigue and media firestorm has riveted - and appalled - the nation in equal measure.For the London property market the vote means there is finally an answer to the, 'Yes or No?' question. It's true, the money markets have been volatile and opinions are divided on the prospect for the Prime Central London (PCL) market.We're seeing encouraging signs that buyers are regaining confidence now that the vote has taken place. Enquiries from new buyers, and those who had put their search on hold until after the referendum have increased. With the Bank of England hinting at a further lowering of interest rates, house buyers in London have reason to feel cautiously optimistic.For vendors, it's worth bearing in mind the point made below by Sara Yates in the Evening Standard. Although London property prices may dip for a period, it would take a significant percentage drop in prices to erase the positive growth the capital has enjoyed over the last few years.Although uncertainty is dominating in the short time since the vote, we're confident that the London property market will return to a more normal state.
London۪s house prices have seen double digit growth for years. Even a 20 per cent fall is likely to leave many Londoners only setting their price expectations back a year or so.
http://www.homesandproperty.co.uk/property-news/brexit-latest-eu-departure-could-help-londons-firsttime-buyers-get-on-the-property-ladder-a102336.html
