By Martin Cole-
House prices and landlord rents have shown remarkable growth in the past week, contradicting previous negative expectations that Brexit would lead to a fall in house price due to uncertainty.
Instead, home owners and landlords appear to be heading for a good 12 months if trends in house prices are to be believed. The boost in house prices is an indication of optimism because of huge funding by the government in various aspects of society leading to the view that economic growth can after all be achieved in a Brexit era.
Reasons to fear an economic disaster have not completely disappeared, but confidence has risen in many parts of the Uk. The strongest growth in house prices across the Uk has been in Northern Ireland and Scotland
The January 2020 RICS Residential Survey results signal sustained improvement in market activity over the month, with indicators on demand, sales and fresh listings all moving further into positive territory.
All indications point to a house prices boom contrary to the cynical expectations that uncertainty associated with Brexit would weaken prices. The next 12 months is expected to see more and more increases in house prices, despite a fall in house prices in the past year.
It has to be good news that 63% of survey participants noted that sales prices are coming in at least level with. An increase in demand compared with supply is having an impact on rent prices, which are predicted to continue to rise.