Brexit fails to deter UK home buyers

New research has revealed that Brexit has failed to have a major impact the UK property market.

According to estate agent haart, three out of four homeowners say the vote to leave the EU has not influenced their decision to buy or sell their property.

The survey of over 2,000 homeowners found that less than 4% are holding off moving because of fears around the impact of Brexit on the economy and house prices.

A further 4% said the vote to leave the EU impacted their decision to buy or sell initially, but Brexit is no longer holding them back. 

Haart’s survey also revealed that of those who had been put off selling, 43% said they couldn’t afford to move and 33% said the hassle of moving meant they were staying put. Just 7% said they weren’t selling because they were worried about future house prices. 

Paul Smith, CEO of haart estate agents, said: “Nearly a year on from the UK’s vote to leave the EU, the UK property market remains sound.

“On the ground we are seeing just as many people as ever looking to get onto the property ladder. Last month data collated from across our branches found that there are 11 buyers chasing every property on the market, and there are simply not enough homes to meet this strong demand.

“EU or no-EU the need for Brits to buy a sell a home is still there – and while the government will be dedicated to securing a good Brexit deal, we must not lose sight of ongoing pressing challenges here at home.

“A severe lack of stock continues to hold back fluidity within the market, and saving up for both stamp duty and a deposit acts as too big a barrier for thousands of aspiring home owners. Instead of Brexit scaremongering, we need to look at deeper into creating housing solutions that will help buyers get the homes they desperately want.”

Percentage of people indicating the impact Brexit has had on their decision to buy or sell a home – source haart