UK House Prices Weather Brexit Shock but London Falls Again

British house prices rose for a second month in September and enquiries from buyers picked up for the first time since February, suggesting the housing market has weathered the initial shock of the Brexit vote, a survey showed.

But prices in London fell again due to uncertainty about what the decision to leave the European Union means for the capital and its huge financial services industry, and the impact of a tax hike in April for landlords buying property.

The Royal Institution of Chartered Surveyors said its monthly house price index increased to +17 in September from +13 in August, moving further away from July’s three-year low of +5.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam