Brexit could cause house price dip

Brexit could cause house price dip



An EU exit could see house prices in the UK drop by 5%, according to eMoov..


 An EU exit could see house prices in the UK drop by 5%, according to eMoov.

The online estate agent expects an exit to cause a “nervous ripple” across the housing market, with buyers and sellers opting to remain inactive as they wait for the economic fallout.
Russell Quirk, Founder and CEO at eMoov, said: “Should the UK public vote to leave the EU, we believe it could have a detrimental knock on effect to the UK property market.
“We’ve been part of the EU for over 40 years now, so it’s understandable that such a momentous change will lead to uncertainty amongst the UK public, as to the resulting implications an exit will have on them.
“This air of uncertainty will lead to inaction amongst those looking to buy and sell and the resulting dwindle in demand, will always lead to a reduction in house prices.”
A 5% drop in prices would see the average homeowner lose around £11,000.
Since the UK joined the EU in 1973 house prices have risen 2,000%.
 


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