South: Official figures show no immediate Brexit impact on property market

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TBM Team

The latest Land Registry House Price Index for July has been released, providing the first concrete look at the post-Brexit property market since the EU referendum.

It reports an annual increase of 9.1% with prices also up 0.5% since July, with just two regions showing a decline.

Founder and CEO of eMoov.co.uk, Russell Quirk, commented: “Another index and another positive outlook where the post-Brexit property market is concerned. An annual increase of 9.1% and a marginal increase 0.5% since June shows that there has been no immediate impact on the market in England since Britain’s decision to leave the EU.

"Although this isn’t news as such, this data from the Land Registry acts as a more concrete confirmation compared to the likes of Halifax and Nationwide who base their figures on mortgage data.

"There are small signs of the seasonal lull usually felt during the summer months across both the South West and West Midlands, with house prices down -0.3% and -0.8% respectively, but elsewhere across England a pretty healthy outlook all round with continued growth both annually and from June to July.”

TBM Team