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A recent article in the NuWire Investor reports that the UK property market is well placed to cope with what may lie ahead as plans for Brexit are made.
International investors are being attracted to the UK property market by the low value of the pound and are capitalising on the opportunity to purchase UK property, in turn helping to prop up the strength of the property market. This continued investment, combined with the demand for housing and a strong tenant demand for private rentals, will keep the UK property market resilient against the forthcoming challenges of Brexit. Regional markets in particular will be best equipped as London is expected to take the brunt force of Brexit changes.
They report that there are currently no signs of ‘slowing’ in the regional markets with rents growing and properties continuing to attract tenants. A report published by the Council of Mortgage Lenders on 14th March 2017 reveals that home buyers borrowed £8.4 billion in January, unchanged compared to January 2016, despite the Brexit vote. Although there is uncertainty as to the future for the UK markets under Brexit, the property market still remains alive and kicking.
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