June 24th caused property developers and experts to go into a state of shock. Nobody really predicted a Brexit, but the question of how a Brexit would impact the market was soon raised.
Scaremongers have gone onto threaten vast price drops and stagnated market. The stock markets see-sawed and the political landscape was so uncertain that investors paused to reevaluate.
However, we are only a few weeks on and we already have a level headed and confident Prime Minister in Theresa May, and the Bank of England has done everything in its power to stabilise the country’s financial outlook.
Interestingly, something that have proven to be remarkably resilient is the residential property market across the UK, and in particular, London. Commercial assets may have taken a dip, but demand for housing in London continues to be at an all-time high.
Overseas investors started to pour money into UK assets thanks to a weak pound, and developers have continued to build and acquire new sites at a speedy rate.
The latest date has shown that property prices have not taken a large hit and sales figures are actually on the increase.