Turbulent times since the Brexit referendum……..
It has certainly been a turbulent ride since the UK voted to leave the European Union almost 30 months ago. With the outcome still very unclear and as the political backdrop hots up, we take a look at our key Brexit market indicators to see what has changed since 23rd June 2016. With house prices rising by 9% since the Referendum, a UK buyer needs almost £20,000 more to buy an averaged priced home now than they did in June 2016. However, the value of sterling against both the euro and US$ remains weaker than in June 2016.
With house prices rising by 9% since the Referendum, a UK buyer needs almost £20,000 more to buy an averaged priced home now than they did in June 2016. However, the value of sterling against both the euro and US$ remains weaker than in June 2016. As such, US and European buyers will find properties in the UK 6% cheaper than they did before the vote.
Housebuilders’ shareholders have seen mixed fortunes. While regaining losses felt in the immediate aftermath of the vote, as the deadline for withdrawal approaches, share prices have taken another hit. Of all our key indicators, only the FTSE 250 is stronger now than it was before the Referendum, although it has lost the majority of its gains since its high of June 2018.
