Prime Central London house price growth could soar by 15% over the next five years if Britain signs a trade deal with the European Union (EU), according to a new report.
Real estate giant JLL published its latest residential report yesterday and forecast that London’s high-end property market could be set for a resurgence, if an expected bounce in confidence returns to the capital.
Despite stamp duty changes and political volatility causing a slowdown in demand for many of London’s most expensive properties in the last four years, the figures from the report projected a quick turnaround on the condition that the UK signs a trade deal with the EU.
Furthermore, the report predicted that overall house prices across the UK are set to grow by 11.4% in the next five years, with London experiencing a sharper growth than most other regions of the UK.
JLL has predicted a 90% probability of a Brexit deal being negotiated, and stated that greater certainty from a deal with Brussels would immediately boost demand from domestic and foreign buyers, with the latter keen to benefit from the short-term currency advantage.
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