What does the UK real estate sector expect after Bretix?
The political and economic chaos in the UK caused the UK economy to shrink. However, according to experts, the Bretix process will rise eekonomically after the process is completed.
After the separation of Britain from the European Union, the economic fluctuations followed England.Peter Izard of Investec Private Banking said evidence of the UK’s resilience were demonstrated in the days after the Government’s defeat in the House of Commons. Markets seem to perk up as MPs made it clear the UK would not be leaving the EU without a trade deal of some sort.
He added: “Markets are handling Brext better than anyone imagined.” Izard said that Britain was acting with the Wait and See policies. Izard told “Unemployment is at its lowest since 1975 and wages are increasing as employers face paying more to attract people.”
Prices in property investments are balanced in central London. He says “The Bank of England had been expected to raise rates and probably would have done if there was more certainty over Brexit. It has to keep its options option.”
Izard expressed the problems experienced in the real estate sector. He said: “We are an island, we have a growing population, we have an ageing population.” He added: “We don’t have enough of the raw materials and the necessary skills in enough quantity – we have a shortage of bricklayers – to keep up with housing demand.”
Another issue discussed in the UK real estate market is the fixed mortgage. According to recent research published by Moneyfacts.co.uk, the fixed mortgage rate, which has been continuing for 10 years, has decreased significantly in recent years.
Darren Cook, finance expert at Moneyfacts said: “In times of uncertainty, a decade-long fixed mortgage could be a safe-haven for borrowers looking to secure their mortgage payments over the longer-term. As consumers prepare themselves for another potential base rate rise this year, their thoughts will be on how to safeguard themselves from any increase in interest rates.
Sevdenur Demir / [email protected]