A new set of economic data has surfaced regarding the short term growth prospects of the capital city. London is estimated to see a 0.5% fall in the average house price this year due to uncertainty with Brexit outcomes, according to the latest research found through a Reuters poll. More than 30 housing experts were polled regarding the short term effects caused by Brexit. Negative growth of property value is expected in London, and positive growth of an estimated 2.0% is expected across the country.

Brexit negotiations continue are leading to many cautious buyers and sellers of property of the UK housing market. Many foreign investors are not stepping forward and showing interest or making purchases according to recent data. The same hesitation is being exhibited by sellers of property in London.

Next year’s estimates are slightly more optimistic with London house prices expected to increase 0.9%. Across the country, an increase of 2.0% of average house prices has been estimated by experts.

London house prices are expected to rebound in the year 2020 and increase by 2.0%.

These estimates have been formulated on the heels of the Brexit vote which produced a surprising outcome in 2016. Voters across the country voted to leave the EU which is now taking place and will officially take place in the year 2019.

As house prices across the UK and the capital city struggle to keep up with the normal rate of inflation rate of 2.5%, remortgage continues its strong run of increased demand. House owners are taking advantage of low interest rates and lender competition. This high level of demand is expected to continue through many months this year.