What does Brexit mean for house prices
What does the EU referendum result mean for London house prices?
On 23rd June the British public voted 52-48 to leave the EU, but what does this mean for house prices in London?
House prices before the EU referendum
Before the EU referendum took place, London house prices were already falling. According to the estate agent Savills, the most expensive homes in Central London were down 8% since mid-2014.
While this isn’t about to reverse any time soon, London house prices won’t fall so drastically that you’d be better off waiting for a good deal – get in touch with Oracle’s independent mortgage brokers now to help you find the best mortgage deals.
There will still be high demand for family housing
One of the reasons why there might not be a drastic fall in house prices in London in the coming months and years is that there will likely remain a high demand for housing, especially family homes, but a low supply.
This means that while there won’t be a huge number of people forced to sell, and so sell for a low price, sellers might be more open to offers.
It’s a good time to find a great mortgage deal
Bank of England base rates are still at their historic low, and may even fall due to the Brexit result and its consequences, so now is a great time to find great mortgage deals with low rates and low fees. Oracle’s independent mortgage brokers can help you find the best mortgage deals uk.
How to find the best mortgage deal
Whether house prices in London rise or fall, you’ll need to find the best mortgage deal. Oracle Consultants are independent mortgage brokers with years of experience in finding people the best mortgage deals.
And because we’re independent, we can look across the whole market to find the mortgage best deals for you.