No-deal Brexit could cause 6% reduction in UK house prices

UK house prices could drop by 6.2% next year if the UK leaves the EU without a deal on 31 October, according to accountants KPMG.

However, if a deal is reached, KPMG predicts that house prices will rise by 1.3%.

London will probably see a fall in prices with or without an exit deal this year and next, it said, with sharper declines if no deal is reached.

However, the low supply of new housing stock could prop up prices over time.

“Overall, while a no-deal Brexit could dent property values in the short term, it may make less impact on one of the fundamental factors driving the market: the stock of regional housing,” said the report.

“Housebuilders are expected to reduce the supply of new housing in some regions in the short term as a response to a deteriorating economic outlook.

“So, while there will be fallout from the initial economic shock following a no-deal Brexit, the market is expected to recover most ground in the long run,” it said, assuming the economy recovers.

Given that the housing market is hard to predict, KPMG said prices could see steeper falls – of perhaps 10-20% – in a no-deal scenario.

“Transactions volumes will likely fall much more than prices – making government housing delivery targets impossible to achieve and slowing new building across the sector,” said Jan Crosby, UK head of housing at KPMG.

Assuming no agreement is reached, KPMG says Northern Ireland will be the hardest hit next year, with average price declines of 7.5%, followed by London at 7%. The least-hit will be Wales and the East Midlands, with 5.4% declines apiece.

This year, most regions will see changes of less than 2%, KPMG says, with the exception of London, down 4.8%, and Northern Ireland, down 2.2%.

If a deal is struck, prices in London and Northern Ireland are still predicted to fall this year, by 4.7% and 1.2%, while most other regions will be largely unchanged. Scotland and the North West will see gains of 1.4% and 1.6%.

And next year, all regions will gain aside from London’s predicted 0.2% slide. The average increase will be 1.3%.

KPMG noted that the UK housing market is healthier than it was at the time of the last housing crash – when prices fell by 15% in 2008. House prices are lower as a percentage of earnings in most regions outside London and the South East.

In addition, compared with the aftermath of the 1991 recession – when housing prices dropped 20% over about four years – mortgages are much cheaper. Back then, the Bank of England’s base rate was about 14%.

24 hour pest removal in north London by Empire Pest Control

How would you react if you wake up in the middle of the night and you find out that there is a rat in the kitchen?

Or how would you feel if you had hired a pest removal service, you had spent a lot of money and two days after the service, the pest is back on your house?

Believe it or not, it might happen; but you can avoid it by hiring the correct and the most professional pest control service. This kind of companies will be there for you, before, during and after the pest removal job. Before: by advising you and creating the lowest budgets, during the job while they will use their professionalism to fully remove the pest and; after, by being in contact with you in case something goes wrong and the pests return.

In North London, a company that has all those characteristics is Empire Pest Control. They will be ready for you at any time in case something unusual happens at your home or commerce.

Empire Pest Control has a professional team that knows what to do with in any kind of pests and which are the best products to use in order to guarantee a great job. The best thing to do is to know which the main factors are to consider in order to hire the greatest company:

Find companies with differentiated objectives

At your house or commerce, you may find several kinds of pests, such as: rats, mice, bedbugs, foxes, squirrels and even more, that is why, the professionals must know what to do and how to differentiate each of them. In other words, it is not the same to treat rats as bedbugs or pigeons. However, the common factor is that all of them may cause several issues to your life and even diseases to your family members. That is why; as Empire Pest Control knows how to treat each of them, they will send you the most specialized professionals.

Check that they provide 24 hours services

As we stated before, pests may show up in your house at any time, any day of the week. That is why is very important to hire a company that can arrive at your house at those unusual times. Empire Pest Control is ready to arrive at your house or commerce in a matter of minutes, in order to do the job as soon as possible. It is also important to consider that this kind of animals must be removed in a short time, since its reproduction is extremely fast and can cause the problem to be even greater in a matter of days.

Be covered after the job

These companies are treating with animals and they can be unpredictable. Empire Pest Control will do a great job by the time you call them, although, once they finish, pests can return. Maybe some eggs where left in hidden places or maybe the pest was so big that they could not remove them all. However, if this happen, Empire Pest Control will be ready to come back at your house to take action again.

Hire companies with the best products

Empire Pest Control has the best pest removal in north London that are trained to do the job correctly. In addition, this kind of company uses the best products against the pests and that are harmless to your family or house. These products have the necessary volume and chemical to ensure a great job but always taking the necessary care to avoid generating problems for your family, plants or pets.

Photo by Mert Guller on Unsplash

5 places to visit in London at night

London is a wonderful city. Almost everyone falls in love with this city. Day or night, it just gets better at every step.

When the sun goes down, the city lights up and many of London’s most famous landmarks are showcased across the city skyline. There are places where you can have long walks and meet new people and see new places and as we all think that night time is much more peaceful.

While visiting London you would need a place to stay basically a hotel to stay with your family or with your spouse. The hotels near Paddington station are great for the desired any businessman or travel would want.

The Park Grand London Paddington Hotel is a great property which is easily accessible by public transport. It has access to transport links like Kensington Gardens and Heathrow airport via the Heathrow Express. Park Grand London Paddington Hotel is ideal for both business professionals and tourists.

Make sure to explore the city after the sun has gone down. Visit some of the places below for sure and don’t forget to bring your camera!

CHINATOWN

Well, who doesn’t like the products sold at a place like this?The enclave currently occupies the area in and around Gerrard Street. It contains a lot of different happening places like Chinese restaurants, bakeries, supermarkets, souvenir shops, and other Chinese-run businesses.

The first Chinatown was located in Lime House in the East End. There is a stone lion on Gerrard Street.

LEADENHALL MARKET

Leaden hall Market is a covered market in London, located on Grace Street Church but with vehicular access also available via Whittington Avenue to the north and Lime Street to the south and east.

This is a must-visit as it is one of the oldest markets of London. It dates back from the 14th century. You can find this market in the historic center and financial district of London.

It is open on weekdays from 10 am until 6 pm. You can basically find fresh food with cheesemongers, butchers, and florists. It was basically a meat, gameand poultry market. Now, you can finda number of commercial retailers in the market. Itincludes clothes shops as well.

LONDON EYE

The London Eye is a cantilevered observation wheel on the South Bank of the River Thames in London. It is a famous tourist attraction and is considered Europe’s tallest observation wheel. It has over 3.75 million visitors yearly. It is a wonderful place to visit at night as the city is lit up and it is quite a view from there.

The structure of the eye is 135 meters tall and the wheel has a diameter of 120 meters. The London Eye used to offer the highest public viewing point in London until it was superseded by the 245-meter (804 ft) highobservation deck on the 72nd floor of The Shard. This opened to the public on 1 February 2013.

SKY GARDEN

The famous sky garden is London’s highest public garden. The Sky Garden is located at20 Fenchurch Street. It is a different public space that runs across three storey’s and offers 360-degree majestic views across the City of London. Visitors are allowed to wander around the beautifully landscaped gardens, observation decks and an open-air terrace which is basically London’s highest public garden.

It is basically designed to offer an open and vibrant place of leisure. It gives visitors a rare chance to experience London from a different viewpoint. Entry to the Sky Garden is completely free.

ROYAL OPERA HOUSE

The Royal Opera House (ROH) is an opera house and a prime performing arts venue in Covent Garden, central London. The large building is often referred to as the “Covent Garden”, after a previous use of the site of the opera house original construction in 1732.

It contains the Royal Opera, The Royal Ballet, and the Orchestra of the Royal Opera House. It was called the Theatre Royal previously.

Conclusion

So, to all the travellers who are planning to visit London can go and check out the above places and create some new experiences and memories with your families or spouse.