Brexit fears are driving London home prices down: report

UK-based Cebr predicts 5.6% plunge next year

TRD MIAMI /
Oct.October 26, 2016 01:35 PM

From the New York website: London home prices are falling down, falling down, falling down.

Property values in London are forecast to fall next year as the uncertainty surrounding Brexit strangles the market, according to the U.K.-based economics consultancy Centre for Economics and Business Research (Cebr).

Home prices, especially in London’s priciest areas, are predicted to drop 5.6 percent in 2017, according to Cebr’s research. Property values across the United Kingdom are set grow 2.6 percent next year, down from 6.9 percent in 2016, Bloomberg reported.

The slowdown is expected to begin in the fourth quarter of 2016 and continue into the next year, Cebr economist Kay Daniel Neufeld told Bloomberg.

Inflation, increasing unemployment and slowing business investment are all factors weighing on housing prices and demand from international buyers, in the wake of June’s vote to leave the European Union. Investors are increasingly nervous about the possibility of a hard Brexit, if the U.K. fails to negotiate a trade agreement with Brussels that would keep it in Europe’s single market for goods and services. [Bloomberg]Chava Gourarie


Related Articles

arrow_forward_ios
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley

Baptist, Belmont gain approval for luxury senior living in Coral Gables

Baptist, Belmont gain approval for luxury senior living in Coral Gables
9885 Palomino Drive (Credit: Google Maps)

Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project

Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
5010 Nob Hill Road (Credit: Google Maps)

Sunrise affordable senior housing facility sells for $30M

Sunrise affordable senior housing facility sells for $30M
Mark Zilbert

Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices

Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices
(Credit: iStock)

Home sales dropped big time in South Florida in April

Home sales dropped big time in South Florida in April
 Rendering of Father Marquess-Barry Apartments with Matt Rieger

HTG scores financing for senior affordable housing in Overtown

HTG scores financing for senior affordable housing in Overtown
Renderings of different versions of the project with Matt Rieger

HTG plans 1,000-unit affordable housing complex in Miami’s Overtown

HTG plans 1,000-unit affordable housing complex in Miami’s Overtown
Pharrell Williams (Credit: Ethan Miller/Getty Images)

South Florida by the numbers: Bright spots in a challenging market

South Florida by the numbers: Bright spots in a challenging market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...