Crunch day for the UK – but how could crucial Brexit vote affect the property market?

Today is a big day for the country, with a crucial vote due this evening in Parliament on Brexit.

Looking at the agent that EYE uses daily to monitor the market generally, we can see that so far this year this south-east branch has not put one property under offer so far this year, and has just one new listing – although of course it could be marketing properties without publicity.

Brexit, perhaps?

However, on the other hand, we can also see from social media that Thomas Morris has 42.2% more sales this January than at the same point last year, with instructions up 51.2%.

Brexit?

Then there was the Telegraph story at the weekend about the vendors choosing to sell now, and then sit it out while renting before buying again, in anticipation of picking up bargains after Brexit-related house price falls.

Does this ring any Brexit bell with you?

Of course, none of us can influence tonight’s vote, resolve the Parliamentary deadlock or stave off the defeat that even the BBC reckons is inevitable and which it also says is just a matter of the scale of the defeat.

EYE is neutral on a subject under which the squelchy ground changes from day to day.

However, our readers are welcome to voice your opinions on the possible likely outcomes – and their potential effects on the housing market, which is after all your living.

These possible outcomes include:

  • Accepting Theresa May’s deal
  • A no-deal Brexit – ie, we just leave: one agent tells us that this could trigger ‘the mother of all recessions’, but maybe you disagree?
  • A second referendum – the ‘people’s vote’
  • Delaying and renegotiating – by its very suggestion, that would take time
  • Staying as we are, in the EU
  • Staying in the EU’s Customs Union
  • A General Election

SOURCE: PROPERTY EYE