BREXIT: PROPERTY

Expect tremors, but the housing market will recover

A period of uncertainty is in prospect, but the shortage of homes should support prices in the long term
Simon Brading and his wife Anna with their children Ruby and Zoe
Simon Brading and his wife Anna with their children Ruby and Zoe

Our decision to leave the EU will not signal the end of times for the British housing market, although there may be a few hiccups as the economy adjusts. Hours after the result was announced some estate agents were sealing deals with British buyers grateful for some certainty and foreign investors snapping up bargains.

Nick Ferrier, of the estate agency Jackson-Stops & Staff, said yesterday that buyers remained keen. “Despite the uncertainty and tumbling markets, we agreed an off-market sale to a buyer for a property on the market at about £5 million this morning.

“The confirmed Brexit has not put off either party, who are keen to press ahead with the deal.”

Reactions and opinions were deeply divided, however, with some foreseeing a slowdown