As Britain commences its transition period from the EU, the Metro considers how the move might affect house prices. Caroline Westbrook writes that, given that the UK will still abide by EU regulations until the end of the transition period on December 31st 2020, little is likely to change immediately. However, if the UK fails to strike a deal with the EU by the current end date and the transition period is not extended then the country would revert to WTO rules on trade and security. A scenario like that could potentially impact the likes of house prices and exchange rates, adds Ms Westbrook. Elsewhere, The I spoke to property expert Henry Prior, who believes that Brexit could bring the market back to life: "Some of that uncertainty will have lifted to a degree now that the outcome is clearer”, he said. However, he added that the confidence boost people feel when reading reports of a "bounce" can actually have a detrimental effect. “Sellers are increasing their expectations, to their estate agents' frustration and annoyance, turning down a perfectly good offer which four weeks earlier they would have accepted".
Metro (01/02/20) I (01/02/20