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UK Housing Market Highly Uncertain

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The outlook for the U.K. housing market is “highly uncertain” after the vote to leave the European Union caused transactions to slow, the Bank of England said.

Record-low benchmark rates have sent property prices surging across the U.K. as homeowners borrow more to buy properties or refinance their loans. Mortgage lending to U.K. households rose 3.2 percent in the 12 months to September, the highest level since 2008, the central bank said in a financial stability report Wednesday.

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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