House prices soar by £10,000 since Brexit vote – quashing doom-mongers’ claims exit would crash property market
Property prices have boomed since Britain voted to leave the European Union in June last year
HOUSE prices have shot up an average of £10,000 since last year’s Brexit vote - despite scaremongering experts who warned of a price collapse.
Homeowners all across the country have seen a rise of 4.9 per cent in value between June 2016 and June 2017, bringing the average price up to £223,000.
It's after the former chancellor George Osborne said leaving the EU would see a house price crash of between 10 and 18 per cent.
Others including Bank of England governor Mark Carney warned Brexit would make Britain worse off as he urged people to vote Remain.
But official figures release by the Office for National Statistics quashed any doubt that the exit vote had affected house prices.
Alex Gosling, of the online estate agents House Simple, told the : “Hopefully these figures will once and for all put to bed fears that property prices would collapse after we voted to leave the EU.
"It’s been over a year since the country voted Brexit, and although price growth has slowed, talk of prices plummeting 18 to 25 per cent was pure scaremongering."
Home prices in England - where you can buy a house on average for £240,000 - have risen by 5.2 per cent.
Homeowners in the east recorded the biggest increase, while the lowest was in the north-east.
Northern Ireland had an increase of 4.4 per cent, bringing it up to £129,000.
While in Wales and Scotland, there was a 3.6 per cent and 2.9 per cent hike respectively.
Russell Quirk, founder of , added: “The attempt by Mr Osborne, Chancellor Philip Hammond and many others to talk the puff out of the UK economy and its related housing market, were grossly exaggerated and in fact completely wrong.”
The ONS figures also showed first-time buyers borrowed £5.9billion - which was up 26 per cent year on year.
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