BREXIT To Contribute To London Property Bubble Bursting

Mark O’Byrne, Research Director of GoldCore.com considers the growing and unappreciated risks from Brexit to the London property market
– Brexit in conjunction with severe price unaffordability, rising interest rates and global economic uncertainty is leading to sharp price falls in London home prices
– London home prices have fallen five months in a row with property prices more than 7% lower in 12 months in some areas
– The Economist has done research which suggests that London house prices are 50% overvalued and Dublin house prices are 25% overvalued
– The Economist believes that there are many cities with properly bubbles vulnerable to sharp corrections due to rising interest rates , geopolitical uncertainty and unaffordability
– Reuters poll of housing market analysts and experts predicted that London house prices will continue to fall in 2018 and 2019, with a one-in-three chance of a house price crash