Property buyers holding back in light of Brexit

[Nicholas Wallwork]

The shock UK referendum result caught financial markets by surprise and seems to be having at least a short-term impact upon UK property prices. A number of estate agents have stepped forward to confirm that some buyers are putting their purchases on hold while others are taking a step back while the situation unfolds. Feelings

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[Longterminvestor]

This is my personal take on the situation: –

The UK/EU will need to agree a trade deal in the longer term

Controlled immigration within the UK will still be a positive factor for the property market

Rumours of the UK becoming an associate member of the European Union make sense

While I would let the dust settle before looking to re-enter the UK property market I believe the ongoing turmoil offers a good long-term buying opportunity, at the right price.

 

[lookinginvest]

Look for individual/regional property markets in the UK, and indeed across Europe, which have been oversold in the coming weeks and months. Rumours and counter rumours will move markets for some time to come as the UK comes to terms with its forthcoming exodus from the European Union. There will be long-term buying opportunities it is just a case of having the nerve to follow through in adverse conditions, ensuring you don't overpay.

 

[nmb]

The so called political elite seem determined to undermine the will of the UK electorate and look for some way to avoid an EU exit. Personally I think this is highly unlikely because a government which does not listen to the general public is a government on the way out. It is not just property investors who seem to be holding back from further investment in the UK with a number of businesses suggesting their expansion plans are now on hold. Everybody is waiting to see how the UK/EU "divorce" goes and whether there is indeed any opportunity to build a long-term trading relationship.