Home>Investor Club Events, January Edition 2017>Behind the Property Headlines

Behind the Property Headlines

Cogress’ speaker of the evening, Lucian Cook, Director of Savills Residential Research, delved into the state of the UK property market, offering exclusive insight and commentary from the heart of the industry.

2016 has been an eventful year, but what did it all mean for the UK property market and more importantly, what does the future hold for 2017?

In the eight months since Britain’s decision to leave the EU we have had a new Prime Minister, a new US President and countless parliamentary debates. But despite this, the uncertainty surrounding how Britain will exit the EU remains just that – uncertain.

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?

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2017-05-29T22:39:39+00:00