WHAT’S IN FOR THE UK IN 2019?
It is almost certain that some form of deal will be hammered out, at the very least to allow for a transition period after March 2019. This will allow time for free trade agreements to be worked out with the rest of Europe.
The UK housing market as a whole soared to record highs in the past few years. Research by property firm Savills showed the total value of UK housing stock had increased by £190bn to its highest level ever — a mind-boggling £7.29tn.
Once a deal has been struck, the British pound is expected to go up. Real estate firm Colliers International predicts a 5% to 10% appreciation in value, while global assets manager Aberdeen Standard Investments says the sterling might potentially climb by 15% from its current level within 3 months of a deal.
Recovery of the pound will slow inflation and lead to stronger income growth that will support prices. Savills forecasts UK house prices to rise 14.8% from 2019-2023.
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