Will first time buyers benefit from Brexit?
Property and house hunting can be a rather daunting experience. Cost of houses can take a real knock to one’s pocket and future investments.
The UK is set to hold a referendum which will ultimately decide whether there should be a British exit from the EU. There has been speculation that house prices will effectively decrease in the event of a Leave vote at the EU referendum held in June. Whether this is a good or bad thing is still debatable.
There have been a number of reports stating that a Brexit would have an influence on the decreasing value of UK housing. It is estimated that the total value of UK housing could fall by as much as £26.5bn by 2018. Home owners on the other hand could lose as much as £7,500 per property.
The decreasing rate of overseas buyers as well as the reduced demand for rental properties will influence private landlords to sell up. This will ultimately be damaging for existing home owners, on the other hand, it will be beneficial for first-time buyers.
Although house prices will decrease affecting existing home owners, benefits for new buyers would be offset by a sharp rise in interest rates in the years after the vote which will fight a predictable surge in inflation.
Among all the stress, Man & Vans is sure to make any move affordable and effective. The last thing you need is to worry about the moving process. At Man & Vans, we take great care in assisting our clients with the best help possible.
For more information or if you are interested in using Man & Vans for your next move, please do not hesitate to contact us on 020 7193 5486 or email us at email@example.com.