House prices have held up well after the Brexit vote despite dire warnings from the Chancellor at the time of the referendum, George Osborne. He had predicted prices could fall by up to 18% after a Leave vote. But although growth has eased, property values have remained stable so far. The average price of a home has increased by more than £14,000 from last year.
Key Takeaways:
- The value of homes in the UK could fall by as much as 18% following a Brexit vote.
- Last December, the average UK house price was £208,474.
- The average home has risen more than £14,000.
“Despite an easing in annual growth, due largely to falling demand from investors, house prices have stayed stable.”