House Prices Rise By £10,000 Since Brexit Vote!

Date Published 16 August 2017

House prices soar by £10,000 since Brexit vote – quashing doom-mongers` claims exit would crash property market

House prices have shot up an average of £10,000 since last year`s Brexit vote – despite scaremongering experts who warned of a price collapse.

Homeowners all across the country have seen a rise of 4.9 per cent in value between June 2016 and June 2017, bringing the average price up to £223,000.

It`s after the former chancellor George Osborne said leaving the EU would see a house price crash of between 10 and 18 per cent.

Others including Bank of England governor Mark Carney warned Brexit would make Britain worse off as he urged people to vote Remain.

But official figures release by the Office for National Statistics quashed any doubt that the exit vote had affected house prices.

Home prices in England – where you can buy a house on average for £240,000 – have risen by 5.2 per cent.

Homeowners in the east recorded the biggest increase, while the lowest was in the north-east.

Northern Ireland had an increase of 4.4 per cent, bringing it up to £129,000.

The ONS figures also showed first-time buyers borrowed £5.9billion – which was up 26 per cent year on year.

If you are thinking of selling now is a great time to get a current market valuation of your home - you may surprised! Call IPS Estate Agents on 0116 255 4155 for a free valuation !