- House Prices could fall by 10-20%, KPMG Claims
- Property owners in places like the South East & London could be hardest hit
- Properties in Northern Ireland could be worth 7.5% less in 2020
A recent article published by This Is Money is based on recent report by accounting firm KPMG. Even if you are not in negative equity based on the information shown in the diagram below you will see what the average house prices are if Brexit deal is agreed and if not:
With a no deal Brexit becoming increasingly likely KPMG have stated that the average house prices will tumble by 10-20%.
Yael Selfin, chief economist at KPMG UK said ‘If we see a fall in confidence, as a result of a no-deal Brexit disruption, and a decline in households’ real income due to higher inflation eating into smaller wage rises, that could see house prices in the South East fall by 0.6% in 2019 and by 6.7% in 2020”. “So anyone who bought a home recently will likely find themselves in negative equity”.
The table below shows the house price growth in their no-deal scenario:
The table above shows that in the event of a no deal Brexit that house prices will drop by 7%, Northern Ireland by 7.5%, South East England by 6.7% and North East England 6.5%.
What can you do if you are in Negative Equity?
If you are a home owner or landlord who find themselves in a negative equity situation there are options available to you.
Negative Equity UK (part of the CD Fairfield group) are the leading negative equity experts. We are the only property debt company who are FCA authorised and regulated to advise and help you on all of the options available.
Since 2013 we have helped our clients write off over £70 million in negative equity debt and with our average write off of 76.6% it is easy to see why we are the highest rated property debt company on the independent reviews website (click here to read our reviews).
You can check out some of our recent settled cases here and if you are looking to find out more information on the following options, click on the options below:
To find out what your options are and to find out what is included in our case review please call Bob Shanks today on 0161 660 4403.