Uncertainty as Major Reason for Weakened UK Housing Market

With UK leaving the European Union, people have come across plenty of action in the recent times before it eventually ends in March 2019. However, the question to ponder upon would be whether there would be any changes in the UK housing market. The affects of UK leaving the European Union has been raising huge questions on the UK housing market. Nonetheless, everything would be clear when the dust actually settles in. Among the several reports put forward, the DM Design, experts in bespoke kitchens in Glasgow brings forth their investigation pertaining to the issue.

Weakened UK housing market

A survey conducted by the UK chartered surveyors during the summer suggests a weakened UK housing market in June. The Royal Institution of Chartered Surveyors headline price balance dropped considerably to +7% in the month of June from +17% recorded in the month of May. It has been recorded as the weakest reading made by RICS, despite it was deemed to be made straight after decisive Brexit vote in 2016 June. RICS also found that 44% of the surveyors questioned for study were of the opinion that domestic political uncertainty was the major reason for the present downfall of the market. However, the other 27% were of the opinion that Brexit is the major reason for downfall of the UK housing market.

Uncertainty is the major reason

Going through the results brought forth through surveys and several studies, Simon Rubinsohn, chief executive of RICS were of the opinion that present environment is not surprisingly featuring more on uncertainty as the major reason for downfall of the UK housing market. The term uncertainty has been featuring heavily in the feedbacks given by a majority of professionals presently working in the real estate arena. The UK housing market is going through a tough patch, but everything would be clear once the dust settles in.