This week on Ask Rob & Rob, Graham asked:
How will Brexit affect the property market?
A popular question! The answer touched upon the important fact that neither Robs believe that Brexit is actually going to happen – people tend towards keeping things as they are, and in all likelihood, Britain will remain in the EU.
Even with that in mind, there’ll likely be a slowdown up until the vote happens, as people will want to wait and see what the result is; no market likes uncertainty, and the property market is no different.
If we stay in, there will most likely be a small bounce upwards, but nothing too drastic. But uncertainty is a powerful motivator and creates fear, which means a Brexit situation is incredibly unlikely. And if it does happen, any changes will be so far down the line that it’s not going to have a major effect.
One other potential long-term effect would be population growth being curtailed, which would have an effect on supply and demand, but demand is already so high that it’s not going to make a real difference.
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