Brexit Property Forecast
15th November 2018
|In Uncategorised
JLL predicts West London house prices will bounce back
A recent housing market forecast published by the Evening Standard predicts a 14.3% house price growth across London in the next five years. Despite house price adjustment and a low volume of transactions in the last three years, the West London property market is set to enjoy a post-Brexit bounce-back, experts are predicting.Published figures anticipate a 15.3% rise in prices at the luxury end of the prime central London market and 14.3% across the local Chiswick, Hammersmith and Shepherds Bush areas in the next five years. Despite recent political uncertainty, experts predict that there could be good news on the horizon for our local property market.Chiswick Sales Director Paul Cooney adds, “Mark Carney highlighted the impact of a no-deal Brexit in relation to house prices this autumn. It was very much a doom and gloom forecast. In that very same week, we agreed £6.2m of property sales here in Chiswick and we matched that result in another week in October. We are very much hoping for a deal to be agreed before Christmas, as this should have a visible effect on our local property market, injecting both new sellers and buyers into the Chiswick market though I don’t believe we’ll see an obvious adjustment in prices until the Brexit dust has settled.” Martin Clements, Hammersmith and Shepherds Bush Sales Manager, adds, “We’ve seen a significant increase in the volume of sales here at Horton and Garton in 2018. Our local market is definitely moving. It’s absolutely a buyers’ market so sellers must be mindful of this adjustment and also ensure they instruct the very best and most experienced local agent.”