We were delighted to be asked to contribute to the Expert Property Market Predictions for 2019.
The collection of property expert commentary delves into a range of topics moving into 2019.
Rolled out for the second year, Brexit’s impact on the market remains a common theme; no surprise there! Yet, while gauging the exact effects is anyone’s guess, the underlying mantra of ‘keeping calm and carrying on’ prevails across this year’s contributions.
JDP's contribution is below. To see the full Market Predictions report simply click the link here.
“It seems highly likely that we will see a further softening of London house prices in the short term prior to the finalisation of any Brexit arrangement. The next two years could be challenging for London but experts believe that 2020 will see the cycle turn. Many have written off London as a ‘busted flush’ in times gone by only to see the market bounce back to take centre stage. Do not fall into that trap!
The South of England, especially the South-East, will likely broadly follow the same path as London house prices in the short term. It is easy to forget these are areas of the country, the South-East in particular, which have significantly outperformed the rest of the UK (excluding London) over the last decade. Property investment is a long-term activity and while short-term fluctuations do obviously impact investor sentiment, the long-term trend is still your friend.
Infrastructure investment has also brought the Midlands and the North of England into play. The risk/reward factors compared to London are much more attractive and there is a feeling that investor sentiment is changing. However, once the dust settles on Brexit it would be foolish to dismiss a recovery in London prices in the medium to long-term.”