London Residential Property Forecast 2017

There was an obvious slow down in the UK property market in 2016. Mainly due to the increased SDLT for second home owners and investors, however there was a huge surge of first time buyers with healthy budgets from £495,000 to £1,500,000.

The “Brexit” decision in June left the UK divided and property buyers and sellers alike felt uncertainty about the future of the UK property market. The pound fell to a 30 year low and the political environment overseas “Trumped” the lot.

So what happens next?…

Whilst we expect the market to continue to be cautious going into early 2017, there is still substantial demand  for property which is well presented and realistically priced.

The weak pound has been attractive to investors looking to take advantage of the currency hedge. If Theresa May’s promise to keep the UK a global competitor for big business it shouldn’t be long before the pound is strong again.

If you are thinking about selling or letting you property in 2017, please contact Richie Tramontana on 020 7485 1332 or email richie@redpropertypartnership.co.uk

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