Ian Scott International


EU exit boosts house prices: Owners across whole country see big rises after Referendum

House prices and mortgage lending continue to rise on the back of the Brexit vote as the UK property market goes from strength to strength.

Banks and building societies recorded their strongest figures for the month of June for eight years as they handed over £20.7bn of home loans.

That is a 16 per cent increase compared with May’s total of £17.8bn, according to the Council of Mortgage Lenders, showing how buyers and movers ignored the Project Fear economic warnings in the run up to the referendum.

And property prices across the UK’s major cities have failed to falter post-Brexit and continue to record double-digit annual growth in June.

City property values in June were 10.2 per cent higher than a year earlier – matching the annual rate seen in May – said property analysts Hometrack.

The uplift is stronger than a 6.9 per cent year-on-year price uplift seen in June 2015.

The great Northern cities of Manchester, Liverpool and Leeds – where millions of people voted Leave in June’s referendum to exit the EU – are leading the way.

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