New data from Connells has caused Brexit researchers to confirm their predictions for the property market in some areas, but not all.
The data interestingly shows how the pace of property valuations conducted in June 2016, the month of the referendum, grew 4% annually and 24% since May.
The big winners, however, are first-time buyers who appear to be ‘leading the market, with a 23% year-on-year rise in valuations for those taking their first steps onto the ladder’.
On a monthly basis, first-time buyer valuations grew 27% since May while buy-to-let activity was up 17%, suggesting that the UK’s and London’s property market is actually continuing to thrive.
The argument continues, stating that Brexit could help first-time buyers further.
A slight amount of uncertainty in the market could cause typical first-time buyer properties to decrease in value, but only during a short window until prices bounce back to the typical London rate.
Inspired are dedicated to helping first-time buyers, and that is why we continue to build luxurious, yet attainable apartments.
The average price paid for a property in Croydon in June 2016 was £427,900 (Homes and Property). However, Inspired have apartments on the market starting at £287,950.
All of our apartments are finished to an exceptionally high standard, boast superb shared facilities and are located in convenient and prime locations.