If you read a newspaper before or immediately after the 'Brexit' result, you would have seen warnings of the possible repercussions a ‘leave’ vote would have on the housing market. Then Chancellor of the Exchequer, George Osborne, predicted that house prices would plunge by 10-18% if the UK voted to leave, and the governor of the Bank of England was using words like ‘emergency’ and ‘uncertainty’ as soon as the result was announced.
It’s therefore not surprising that some would-be buyers may now be feeling hesitant, and unsure as to whether they should buy their first home or upsize to a larger one. Property investors may also be wondering whether they should buy into the market.
Fortunately, recent evidence suggests that the risks of 'Brexit' to the housing market have been seriously overstated.