British homeowners are keeping their cool ahead of the impending EU referendum on June 23.
Are you considering buying or selling in the next few months? While the Uk housing market has seen a growth over the last few years, things could be about to change.
According to findings by the Zoopla Housing Sentiment Survey, 9 out of ten households remain confident that the value of their homes will continue to rise despite the uncertainty over ‘Brexit’ – the UK’s potential departure from the European Union.
Of the 2,361 people questioned, 92% said that they believed house prices would rise across the country by an average of 8.8 per cent in the coming six months, with London properties predicted to increase by 12.5 per cent.
As you would expect there are some regional differences – after living through the property boom in London over the last 10 years, 96 per cent of homeowners in the south east feel safe in the knowledge that their homes will continue to increase in value.
The results come after a survey by financial auditors KPMG earlier in the year found that 66 per cent of real estate experts thought that Brexit could have a negative impact on foreign investors buying property in the UK, which could lead to a stalled property market.
But even this could be great news for first time buyers wishing to get onto the property ladder. The key message is that even if the property ladder stalls, the housing shortage means that there will always be a relatively healthy market.
Lawrence Hall, spokesperson for Zoopla, said that “Despite uncertainty around the upcoming EU referendum, this does not appear to have knocked consumer confidence levels.”
If you are putting your home on the market then spending some time to make sure it looks its best is vital. If you’re planning to tackle some DIY over the bank holiday you’re not alone – almost half of the interviewees also plan to spend more on home improvements this year compared to the last 12 months.