July 4, 2016

UK’s Housing Price Mountain

   July 4, 2016

UK’s Housing Price Mountain

UK_Halifax_Housing_Price_Index__[Close]_TMMChart.png

Trader’s Remarks

The dust is still settling after the nation’s decision to leave the EU last week, and markets are still in turmoil. It might be too early to say if the decision to leave the EU has had an instant effect on house prices. It would be fair to say, though, that the mood among housing market observers is more gloomy on price growth than it had been before the referendum. Real estate market activity and prices now look to be at serious risk of an extended, marked downturn following the UK’s vote to leave the EU. This is likely to weigh down markedly on economic activity and consumer confidence, which is not good news for the housing market.

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