PHOTO: UK – Wikipedia
Since the start of this year, the value of the British property market has dropped almost £27 billion (US$35.73 billion), which equates to a fall of £5.12 (US$6.78) per property per day, according to a report Thursday from U.K. property website Zoopla.
The total value of the British property market now stands at £8.19 trillion, a decrease of 0.33%—or £26.9 billion—since Jan. 1.
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“It’s not surprising to see a small drop in values since the start of the year,” said Lawrence Hall, spokesman for Zoopla, in the report. “Uncertainty around Brexit is a very real factor in the market. However, on the positive side, the drop is creating a potential opportunity for first-time buyers to get a foot on the ladder in some regions across Britain.”
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