Housing market ‘fundamentally strong’, says eMoov

Hybrid estate agents eMoov expects the lettings sector to be strengthened long term in a post-Brexit Britain.

Reacting to the latest house price figures released by Halifax, eMoov founder Russell Quirk said:

“Today’s figures show, even in the wake of Brexit, that the UK housing market is fundamentally strong.

“With a continuing, acute shortage of new housing being built and a growing population even if immigration numbers are now curtailed, the demand/supply imbalance and the prospect of even low interest rates will underpin the market. Even if there are short term confidence wobbles fuelled by a media hungry for bad news.”

Halifax House Price Index for June 2016 showed an annual growth of 8.4%, the lowest since July 2015. The April-June rise of 1.2% was also the lowest on a quarterly basis since December 2014.