How will leaving the EU affect the property market?
With the referendum behind us, we take a look into how leaving the European Union could affect the property market.
Now the result is here, there is still very much a sense of uncertainty as to what this could mean. Inevitably, the property market will be affected by the vote to leave, to what extent is uncertain until the dust starts to settle, though as a marketing company specialising in the property sector, we are ready to ride the waves and take any changes in our stride.
With the London property market set to see the biggest changes, housing experts are predicting a slow down in purchases made by buyers from the UK and the EU due to the uncertainty of the future, whilst they predict an increase in sales from overseas buyers looking to capitalise on the pound’s decreased value. Already there has been an increase in foreign property investors buying in London. Whilst it is certain the housing market will see changes as a result of the referendum, these will be short term and the market will be quick to recover with signs of stabilising showing already.
We will be adapting over the coming months to suit the market and continue to deliver the same great service to our clients as we always aim to. We are interested to see how the property market changes over the next few months and years as a result of this historic decision.