In giving their reasons, the experts point to factors including a continuation of cheap mortgage finance plus depressed market sentiment and prices.
Mortgage Rates Could Stay Low
The era of cheap finance, which has been with us for almost a decade, could stretch out a little longer.
Aaron Strutt, of brokers Trinity Financial, says that a slowing property market has prompted lenders into something of a competitive ‘mortgage war. This is despite rising interest rates.
David Hollingworth of brokers L&C says that if a no deal Brexit weakens sterling then future interest rate rises could be postponed to support the economy.
Ray Boulger from broker Jon Charcol agrees. All three experts also point out the popularity of fixed rate mortgage deals at the moment.
Property Prices Could Stagnate, Or Fall
Ray Boulger anticipates a small fall in prices in the event of a no deal Brexit. He also believes the current, and any further, fall in the volume of transactions could allow serious buyers to drive a hard bargain in the middle of next year.
David Hollingworth suggests any impact on prices could be short-lived, however. He says the shortage of property and low interest rates will outweigh the impact of cautious market sentiment due to Brexit.
Aaron Strutt points out the additional risks of a partial deal, or extended Brexit transition period. He says that this would extend the period of uncertainty and further destabilise the market.
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