UK property market expects 3% growth in 2016

scotland-rent-houseUK regional residential market shows the strong market essentials despite of the recent EU result. According to the CRBE latest analysis, UK house prices are expected to grow by an average of 3% this year with current growth of 5.1% across the country regarded as encouraging with the capital followed closely with 9.9% growth. It explains that with a period of uncertainty, the UK remains in a strong position with high employment, low borrowing costs which will help boost exports and although buyer opinion is likely to remain cautious prices will continue to grow.

Jennet Siebrits, head of residential research at CBRE says: “Despite some short term chaos following the referendum, the UK still has otherwise very stable economic foundations. There are now encouraging signs of growth becoming more broad based and coming from multiple sectors. London and the UK are still robust investment regions with a strong and established legal structure, favourable time zone, and a durable, settled, democratic political structure. Despite the outcome of the EU referendum, the current forecasts remain broadly unchanged and expect UK house prices to grow by an average of 3% this year.”

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