"Despite believing that growing demand and a lack of supply will prop up prices, brokers are beginning to see negative sentiment within the housing market."
In a survey about house prices at this week's Financial Reporter Specialist Lending Roadshow, a third of brokers expected house prices to increase and 62% expected them to stay about the same.
All of the respondents who expected a fall in prices cited uncertainty around Brexit as the main reason.
Of those who think house prices will increase, 38% expect to see increasing demand from consumers and 27% think Brexit will provide a boost to the economy. 35% think a lack of housebuilding will continue to push up prices as supply remains limited.
When asked to compare the housing market to 12 months ago, 43% of brokers felt there had been no change and 38% think the housing market feels more negative. Just 19% said the housing market feels more positive than this time last year.
To join the Insights mailing list and get future market research surveys straight to your inbox, visit www.project-insights.co.uk.
Financial Reporter holds dozens of webinars and broker roadshows throughout the UK each year – our commitment to supporting the professional development, education, and business opportunities of our readers.
For information on all of our upcoming events, visit www.financialreporter.co.uk/roadshows.
Rozi Jones, editor of Financial Reporter, commented: "Given the bleak house price data seen over the past few months, it's surprising but positive that brokers believe the market will hold steady, despite increasing political and economic uncertainty.
"However it's also clear that our attendees are aware of Brexit's potential to disrupt the market. Despite believing that growing demand and a lack of supply will prop up prices, brokers are beginning to see negative sentiment within the housing market.
"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."
