kb-network    Opinion 23 Mar 2017

Alex Gosling states property prices look set to remain firm ahead of Brexit

“The London Olympics may be a distant memory but the Olympic legacy is still having a massive impact on the region,” says Alex Gosling, the CEO of online estate agents HouseSimple.com (seen here).

“Waltham Forest and Newham have both struck gold with the highest annual average price rises of anywhere in the country. These were boroughs in need of regeneration, and families and first-time buyers are now moving there thanks to the improvements in infrastructure and local amenities.

“Of course, this will be galling to many homeowners in the rest of the country who haven’t seen any positive impact from staging the Olympics. They will be thinking why them and not us. Londoners have already enjoyed massive house price rises without getting a helping hand from the Olympic effect.

“Overall, January was a strong month for UK house prices and we saw a surge in sellers marketing their properties. The worry will be that now a date for Article 50 has been announced, the housing market may hit the buffers, although the doom-mongers were saying that about Brexit, and the slowdown never materialised.

“It seems the UK property market is proving remarkably resilient to shock economic news, and there’s no reason it can’t absorb the fallout over the coming months from Article 50 being triggered.”

House Simple | housesimple.com