House prices were at the forefront of the EU debate in the run-up to the EU referendum with the now former chancellor George Osborne claiming that the value of homes in the UK could fall by as much as 18% following a Brexit vote.
Based on the average price of a home in the UK at the time of the vote in June, Osborne’s forecast suggested that the average residential property could fall in value by more than £50,000 within two years of the vote in comparison with what it would be if the UK stayed in the EU.
But Osborne’s predictions were rather bold, given that there is a severe housing shortage in this country, and the fact that mortgage borrowing costs are at an all-time low.
But last week’s High Court judgment confirmed that the Brexit process will be neither quick nor easy, and so what does the future hold for the UK housing market post-Brexit?
To help answer that question, Andrews Property Group will be holding an event next week that will provide homeowners, buy-to-let landlords and property investors with the chance to pose questions relating to the future of the property market once Article 50 has been triggered and the process towards Brexit commences.
The panel discussion will examine what the possible implications for the residential property market might be, and what property investors may wish to consider ahead of Article 50 being triggered before the end of March next year.
Taking place at the UWE Exhibition & Conference Centre on Thursday 17th November, the Andrews event is being held in partnership with tax specialists Smith & Williamson and will include a panel of property experts including David Westgate (Group CEO of Andrews Property group); Paul Bumford (MD Andrews Financial Services) and Alison Nunez (MD Andrews Lettings & Management. They’ll be joined by Karen Press of Smith & Williamson.
Commenting ahead of the discussion, David Westgate said: “Whilst no-one can answer with absolute certainty what the future holds, especially once Article 50 has been triggered, what we can do, is explore the possible opportunities and threats that will arise in the coming months and years.
“Our broad range of expertise and insight equips us with the ability to advise our customers on what factors they need to be considering and how they could impact their own individual circumstances, whatever they may be.”
Anyone interested in the issues covered by the expert panel can either attend in person (pre-registration is essential) or alternatively the debate will be live streamed as it happens.
Pre-registration can be done by clicking here.
For those attending in person, doors will open at UWE Bristol Exhibition & Conference Centre (BS34 8QZ) at 6pm and the debate will commence at 6.30pm. Light refreshments will be available and the event will conclude by 8pm.