House prices in some of the UK’s major cities have seen a double digit increase in their annual growth, despite the uncertainty surrounding Brexit.
Property analysts Hometrack found that the average growth for the entire country in June was 10.2% based on numbers from last year, which matches the average in May.
It is believed that the surge in the value of housing was caused by investors rushing to close deals in the face of the rise in Stamp Duty and the results of the European Referendum.
Whilst the growth in some areas of the south like London and Southampton were a little slower than previous months, areas of the north like Glasgow and Manchester saw stronger growth than expected.
Hometrack has stated that the momentum of sales and growth leading up to the referendum did not falter which is what led to such a strong average, however areas such as London may now be fighting against oncoming wind generated by the Brexit.
