Brexit- Property Prices in Renfrewshire will remain the same for the foreseeable future
Since the decision to leave the EU on 23 June 2016, it is unclear exactly what impact this will have on the future of the property market. Figures and Statistics show a growth and whilst there is uncertainty as to the impact of Brexit on the Housing Market, it could take several months for the underlying trends in the market to become evident.
Figures according to the Land Register of Scotland indicate buyers were not deterred by the risk of Brexit in the run up to the vote. However immediately after the vote, there was a fall in demand from potential buyers. This is expected to level out in July.
Currently in Renfrewshire, demand continues to outstrip supply and this is expected to remain for the foreseeable future, keeping property prices much the same as they are now.
Below are the volume of sales recorded in Renfrewshire for the previous 4 months. It will be interesting to see what is recorded for July/August for sales in Renfrewshire to determine any impact on the local Housing Market since leaving the EU.
Renfrewshire Volume of Sales per month
March - 275
April - 331
May - 257
June - 310
The industry on a whole appears to remain positive and upbeat about the uncertainty of the Housing Market.