Residential market are expected to be strong and active in UK

sreUK housing market is expected to be strong and active throughout Brexit process. The latest forecast from real estate firm JLL says that there will still be moderate growth with the residential market. Greater London is predicted to do well with growth of 1% in 2017, some 2% in 2018, then 3% in 2019, 5% in 2020 and 7% in 2021.

Neil Chegwidden, head of JLL residential research says: “The real key to the outlook for the property market is the widespread positive attitude adopted within the UK. Much will depend on the trade agreements negotiated, but with greater certainty the economic outlook should brighten along with consumer and business confidence as we head into 2019, we expect the UK housing market to be more subdued over the next two to three years. However, it will remain reasonably active with little chance of meaningful price corrections, although levels of new housing delivery were still woefully low prior to the referendum at least the direction of travel was be positive and encouraging.”

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