The English housing market has been on an absolute tear. The prices in the country have been risen exponentially over the past couple of years and it does not seem as if it is going to slow down any time soon. With that being said, there is a huge shadow of Brexit that looms over the country. People do not know what economical effect this is going to have on the housing market to this very date.
- The country is still a bit confused over what is going to happen when this initiative takes place.
- The values of some of these homes have gone up to levels that have never been seen before.
- Though the market will crash at some point, expect it to recover as it always does.
“Mark Carney has warned that a “no deal” Brexit could cause a slump in the house price of up to 35% over the three years following the UK’s chaotic departure. The Bank of England asked UK banks to undergo a “stress test” based on a 33% collapse in the house price.”
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