Just two per cent of Brits are holding off buying a home because of Brexit fears

According to this estate agent

Brexit has failed to deter British buyers and sellers, according to haart, whose latest survey has found that the majority of homeowners do not think Brexit would make any difference to their decision to sell their home or buy a new one.

The independent 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. 

These statistics come as the latest ONS House Price Index finds that UK’s house prices have still risen on average £12,000 since the vote to leave, and the amount home buyers have borrowed is up by 19% year-on-year, as ‘project fear’s’ predicted Brexit fuelled housing crash failed to materialise. 

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.

 

Has Brexit had any impact on your decision on whether to sell your home or buy a new one?
No, it makes absolutely no difference whatsoever.75.2%
No, but I am concerned about the impact of Brexit.16.1%
Yes, I was concerned about selling initially, but it is not an issue now.3.2%
Yes, I was concerned about buying initially, but it is not an issue now.1.2%
Yes, I’m holding off selling at the moment because of Brexit.2.7%
Yes, I’m holding off buying at the moment because of Brexit.1.7%

Table 1: percentage of people indicating the impact Brexit has had on their decision to buy or sell a home – source haart

Paul Smith, CEO of haart estate agents, comments: “Nearly a year on from the UK’s vote to leave the EU, the UK property market remains sound. House prices are up 5.6% on the year, a world away from the 10-18% drop that the former Chancellor was plugging to middle Britain, and clearly consumer sentiment is that the ongoing negotiations are not acting as a detriment to the market.

 

 

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