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UK property values rise by five per cent in a year defying Brexit naysayers

The UK property market defied Brexit doom and gloom predictions as figures have shown a five per cent annual increase in the 12 months to June 2017.

Discussing the impact of Brexit one year on from the vote, Russell said: “A year on and in contrast to gloomy predictions, an anticipative Schadenfreude even, we see that, in fact, house prices are nearly five per cent higher annually, with the monthly decline in growth reversing and the market remaining one of the most robust in the world.

“The attempt by Osborne, Hammond and many others to talk the puff out of the UK economy and its related housing market, were grossly exaggerated and in fact completely wrong.”

The Land Registry House Price Index has revealed the average house price in the UK is £223,257.

Month on month, property prices have risen by 0.8 per cent compared to May, and 4.9 per cent compared to last year.

The data is compiled using residential housing transactions, whether for cash or with a mortgage.

Read the full article: http://www.express.co.uk/life-style/property/841290/sold-house-prices-uk-property.

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