BREXIT boost: speculation that EU exit will push up London house prices
With everyone on edge over the imminent trigger of Article 50, there might be a very unlikely byproduct of our EU exit
Will Herrmann, Director of West Eleven, has made the bold claim that house prices in London might actually rise as soon as Prime Minister Theresa May presses the button.The private property developer, who finds niche spots in Central London to develop, feels that oversees interest in property will fuel the forthcoming market. Asian investors looking to protect their money and Europeans lacking confidence in the Euro were cited as major players, tempted by the UK’s democracy, judiciary and property laws, together with the falling pound.Here at Lurot Brand – a Central London estate agency specialising in the sale of mews houses and hidden gems – we agree with the sentiment that the UK’s wider backdrop (especially in London) remains stable and attractive, despite our BREXIT negotiations.In fact, it appears our ‘steady ship’ will bolster our safe haven status, and the prime Central London property market will remain attractive among UK and global home movers.
“The effect of the devaluation of the pound has led to an opportunity for overseas buyers. Globally, Chinese and other far Eastern buyers want to save their money protected by a strong democracy, judiciary and property laws.”