Sunday, May 29, 2022

Home buyers unaffected by brexit, U.K. economy buoyant

Steve Victor pulled out of buying his first home the day after Britain voted to leave the European Union. Just a month later, the IT contractor dived back into the market to become the owner of a penthouse apartment in London.

“I bailed on the initial shock, but after it sank in I came to the conclusion I had to take the plunge at some point,” the 34-year-old said by phone.

“Despite my fears, prices have already risen where I bought.”

Victor’s experience shows how some buyers have regained confidence in the U.K. real estate market following the Brexit referendum on June 23. While London house prices fell after the vote, they rose across the country as a whole, just not as quickly as before.


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