The prime residential market has continued to be price sensitive as an effect of this uncertainty. The prospect for economic growth, house price growth and job security for those working in the finance industry has made both buyers and sellers hesitant. As such, there has been little upward pressure on prices. But the latest data for the UK economy suggests it’s not all doom and gloom. According to Oxford Economics, GDP growth for Q4 2016 was above consensus at 0.6%, leaving annual growth at 2.0%. Whilst this was behind 2015’s 2.2% growth, it was considerably better than what was predicted in the aftermath of June’s referendum.
So will this ‘comeback’ in confidence feed into the prime markets?