{"id":20018,"date":"2019-05-14T13:18:18","date_gmt":"2019-05-14T13:18:18","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=20018"},"modified":"2019-05-14T13:18:18","modified_gmt":"2019-05-14T13:18:18","slug":"a-look-at-how-house-prices-might-be-affected-by-brexit","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/a-look-at-how-house-prices-might-be-affected-by-brexit\/","title":{"rendered":"A Look at How House Prices Might be Affected by Brexit"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p class=\"p1\"><span class=\"s1\">Are you as confused about Brexit as just about everybody else? Since the initial referendum that led to the decision to Brexit in 2016, experts and pundits have been prophesying about what exactly is going to happen with house prices. Quite frankly, it\u2019s scaring most people about what the future of the UK will look like. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As of now, it looks like there will be a long extension period before the UK ultimately Brexits. This is due to the fact that there is not yet an agreed-upon deal in place to move the country forward to make a clean break from the European Union. Nobody is really certain about what the next steps are. So despite the uncertain times, let\u2019s think ahead. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">What if the Brexit finally happens? Is the price of property going to change? Will it change for the worse?<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The short answer is yes. It is projected that there will most likely be a drop in house prices, but before you get too worried, let\u2019s talk it through. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The prices will most likely not drop as far as you may think. In fact, it\u2019s likely that there will be both an increase in price but a drop in the rate of growth at the same time. <\/span><\/p>\n<p class=\"p3\"><strong><span class=\"s1\">If you\u2019re confused, let\u2019s rewind.<\/span><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">If house prices are likely to decline, let\u2019s first ask ourselves why. It\u2019s really a giant social experiment. House prices go down because people are afraid to buy and sell. The uncertain marketplace is a result of an uncertain time politically. This is what will ultimately make prices go up or down. It\u2019s all about studying human behavior and how people feel about buying and selling during trying times. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Just because some people are uncertain doesn\u2019t mean that those that need to move will stop themselves from moving. Perhaps some might put off their move by a few months, but certainly not for too long. As a result, what will likely happen is that house prices will continue to go up as they usually do in times of prosperity but during this time of Brexit, they might go up at a much slower rate. <\/span><\/p>\n<p class=\"p3\"><strong><span class=\"s1\">So what does this mean? <\/span><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">In this situation, you get both an increase in price from the prices you see today but you also get a steadying of the rate. So let\u2019s say the cost of your house was supposed to go up 7% next year. During a Brexit, the cost of your house may only go up 2-3% despite the fact that it was projected to go up 7% before a Brexit. These aren\u2019t exact numbers by any means, but they\u2019re meant to showcase how the market may work in general. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Not so scary. In fact, it is most likely that London and the regions surrounding it will feel the heaviest impact of this, so if you\u2019re somewhere in the north of the island, you almost have nothing do worry about. <a href=\"https:\/\/www.which.co.uk\/news\/2019\/04\/what-will-brexit-mean-for-house-prices\/\"><span class=\"s2\">Which.co.uk did an excellent piece<\/span><\/a> where they looked at how the average cost per house in the UK has actually gone up while the rate of growth has indeed slowed down. <\/span><\/p>\n<p class=\"p3\"><strong><span class=\"s1\">So what should I do?<\/span><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">If you find that you need to either buy or sell property during this inconvenient time, don\u2019t stop yourself from doing it. However, you should definitely do market research based on which area you live in and see the general prices of similar property in your region. <\/span><\/p>\n<p class=\"p4\"><span class=\"s3\">You also need to be aware of <a href=\"https:\/\/www.thehouseshop.com\/mortgages\" title=\"mortgage rates\">mortgage rates<\/a>. You can <a href=\"https:\/\/www.moneyexpert.com\/mortgages\/\"><span class=\"s4\">compare the best mortgage rates online<\/span><\/a><\/span><span class=\"s1\"> at moneyexpert.com and find other relevant information there as well. <\/span><\/p>\n<p class=\"p4\"><span class=\"s1\">Generally speaking, there is a lot of uncertainty going on right now and there is due to be more uncertainty to come. However, with the right research and knowledge to back up your decisions, you can be sure to move you and your family with confidence. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you as confused about Brexit as just about everybody else? Since the initial referendum that led to the decision to Brexit in 2016, experts and pundits have been prophesying about what exactly is going to happen with house prices.<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/a-look-at-how-house-prices-might-be-affected-by-brexit\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":19541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[581,17],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2019\/03\/Money-bags.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/a_look_at_how_house_prices_might_be_affected_by_brexit","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/20018"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=20018"}],"version-history":[{"count":1,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/20018\/revisions"}],"predecessor-version":[{"id":20019,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/20018\/revisions\/20019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/19541"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=20018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=20018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=20018"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=20018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}