"Prices have certaintly slowed over the past year and the consensus amongst experts is that Brexit uncertainty has at least had some impact on the fall."
In a survey on house prices Financial Reporter's roadshow series, 31% of brokers said they think prices will continue to rise over the next twelve months and 58% expect prices to stay about the same. Just 11% think prices will fall over the next year.
Of those who believe prices will decrease, 75% attributed the fall to uncertainty around Brexit. The remaining 25% cited less demand from consumers, but didn't specify the reason behind the fall.
Conversely, the largest number of brokers who expect prices to increase cited a boost to the economy following Brexit (42%), followed by rising consumer demand at 31% and a lack of supply at 27%.
When asked about house price sentiment compared to twelve months ago, 40% said the housing market feels more negative and 31% think it feels more positive. The remaining 29% felt there had been no change over the past year.
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Rozi Jones, editor of Financial Reporter, commented: "It's hardly surprising that brokers are split on whether house prices will rise or fall over the next twelve months and whether Brexit will have a positive or negative impact. Uncertainty surrounding Brexit and the economy is only increasing and an impending General Election is likely to fuel further ambiguity within the housing sector.
"Prices have certaintly slowed over the past year and the consensus amongst experts is that Brexit uncertainty has at least had some impact on the fall. However the market has also proven resilient as buyers and sellers have tired of waiting for the 'dangling carrot' of certainty and have carried on with their major life events.
"During the next couple of years, advice is going to be even more vital for those on the housing ladder. Brokers play a vital role in ensuring the market remains moving and securing the right deal for borrowers, and our Roadshows provide them with up-to-date market news and insight from a range of industry experts to ensure they are able to weather the Brexit storm."
