11 May

Strong start for 2016 property market

Strong start for 2016 property market

The start of the year has seen a strong period for the UK housing market, according to nre research.

A report from Connells Group shows an increase in buyers entering the residential market as they seen to benefit from ongoing low interest rates and increasing economic certainty.

However, there are concerns that a lack of suitable housing stock could undermine the growth across the whole of the market, especially given the country’s strong buy-to-let investor activity.

David Livesey, group chief executive, explained: "Supply side initiatives, driven by the Government’s attempts to stimulate housebuilding in particular, may need further support if they are to have any meaningful impact on the level of available stock in the short term."

The report also examined the impact of the current Brexit debate and whether it has influenced buyer and seller behaviour.

Mr Livesey commented: “There are some warning lights flashing in certain areas of the global economy and the current Brexit debate is leading to a degree of business uncertainty.

2The uncertainty is similar to that seen in the lead up to the Scottish Referendum in 2014 and the UK General Election in 2015, and whilst this may introduce some hesitancy to the market during the second quarter the fundamentals of the UK economy remain strong."

The referendum to decide whether the UK will remain or leave the European Union will take place on June 23rd.ADNFCR-1222-ID-801818212-ADNFCR

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