So the clock struck 11pm on Friday 31st January which marked the historic moment of the UK formally leaving the EU with an eleven month transition period to negotiate a free trade deal.

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Besides the obvious changes such as no further representation at the EU summits by UK MEPs, blue passports and 50p Brexit coins, however a director of a leading UK Property investment company, Andy Foote, asked:: “The question for the property market, and indeed crucially the financial markets, is will we see a post-Brexit bounce?”

However optimism in the housing market post-Brexit is high due to the rapid uplift of buyer demand immediately following the general election.

Rightmove claims that in the four days after the general election, demand increased from prospective buyers by 28% higher than compared to the same four days in 2018, with the capital enjoying an unprecedented 54% jump over the previous year.

A majority of market analysts have forecasted the housing market will enjoy a ‘Boris bounce’ in the economy, which will automatically have a positive impact on the housing market, however this may not continue into 2021.

Foote continued: “With the general consensus appearing to be a desire to make Brexit work, we can likely expect an uplift and return to ‘business as usual’ – in comparison to a more hesitant marketplace over previous months.

“How long this uplift will continue however will hinge on the next steps within the transition period. It is perhaps the summit in June where Britain and the EU will come together to review progress of negotiations so far and whether all deals will be reached in time to begin on January 1st 2021, which will be most telling of all.

“We watch this space in anticipation.

“In the meantime, what is apparent and is important to take note of, particularly for property investors and buyers wondering whether to buy now or wait, is that whilst we’re in this period of uncertainty, house prices are still growing – however slow they might seem. This is the market simply saying it wants to move, but “let’s just hang fire for a moment whilst we find out what is happening”; It’s potentially an opportunity for the less risk-averse to invest or buy before the bounce and wait for the market to return to higher growth again.”