The uncertainty in the property market that the media continues to proclaim is exaggerated. At Dexters, we've seen that demand has remained strong because London is one of the world's most important and exciting cities, regardless of Brexit.
Investors recognise that London is unique as a safe bet in terms of property as an investment. British regulation remains a light touch and the capital continues to attract new investment from around the world.
Buyers and investors are making long-term decisions based on the high demand and limited supply equation and are accepting modest returns in the expectation of long-term capital growth. Demand is strong from local, American and European buyers, with buyers jumping in where they see good value, good locations or both.
Investors are out in force, as there are reliable returns from London's vibrant lettings market.
The High Court ruling that Parliament should have the power to evoke Article 50 in order to trigger Brexit is set to prolong uncertainty in the property market. Buyer sentiment is expected to remain fragile for the duration of Brexit negotiations, resulting in fewer transactions. However, low interest rates will prevent the market from falling too far. Once homebuyers have greater clarity - and confidence - the market will should start moving again, with a five per cent hike in prices expected in 2019. Interest rates are likely to follow this spike, causing price growth to slow to around 2.5 per cent over the next couple of years.