Market Overview: Post-Brexit Rebound

Confidence in the economy and housing market is returning after being dented immediately after the EU referendum result. The FTSE has rebounded to its pre-Brexit level, interest rates at 0.25% are at a historic low, and the service sector – which accounts for close to 80% of the UK economy – returned to positive growth in August. Although transactions in the three months to the end of July were 9.8% lower than the same period last year, the mortgage market remains robust and the Royal Institute of Chartered Surveyors report that sales volumes stabilised during August, with prices and volumes expected to rise through the autumn.