Most estate agents think market is worse after Brexit...

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12 December 2016

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Most estate agents think market is worse after Brexit vote, poll shows

House prices will rise 2.0 per cent in 2017, below the rate of inflation and just under half the rise predicted prior to Britain’s vote to leave the EU.

That’s the result of a poll of 20 estate agencies and property organisations undertaken by news service Reuters. The polled firms include the Council of Mortgage Lenders, Savills, the Nationwide building society, eMoov and Knight Frank

Eight say there has been no change to the market after the Brexit result, while 11 say the market is worse and one says it is a lot worse. ”None of the respondents to an extra question said their opinion on the future of the housing market had improved since the referendum” says Reuters.

However, a broader poll of 25 economists - also undertaken by Reuters - suggests prices may rise next year by 2.7 per cent; this is slightly higher than the predicted rise made by economists in a similar survey just before the EU referendum.

But the economists say much depends on the success or otherwise of negotiations after the triggering of Article 50. “Therefore, the vast majority of respondents in the poll said there was move chance of them being wrong than right” warns Reuters.

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- giles niedermeyer
- 12 December 2016 06:45 AM
EA's should be aware of the risks in recommending solicitors and conveyancers in transactions. The recent strike off of Chelmsford property lawyer Mike Alexander for multiple counts of dishonesty serves as a warning to us all. If we recommended dishonest people like Alexander then we put ourselves and our employers at risk.

http://www.propertytribes.com/mike-alexander-solicitor-struck-off-t-127627606.html

- Daniel Roder
- 12 December 2016 10:28 AM
Not many things appear to be better after Brexit - although Brexit hasn't actually happened yet, of course - so I'm not surprised to see the property industry suffering as well.

- Mark Wilson
- 12 December 2016 16:43 PM
Another article on the obvious.

- Jon Tarrey
- 12 December 2016 17:05 PM
The success of Brexit shouldn't be judged on house prices falling - God knows that needs to happen at some point - but on whether anyone actually has a clue what the hell we're doing or what our actual plan is. Man of the people Farage has now got far better things to be doing with his time than mixing with the hoi poiloi, while Boris is too busy going from one diplomatic disaster to another. May seems more interested in trousers and talking a good game than any actual action, and the only thing you can rely on Davis, Grayling and Fox for is to mess things up spectacularly. Still, all these months later, we're not clearer on what is actually going to happen. You would have thought someone on the Leave side might have had a clue. Apparently, now they've "won", everyone else should shut up moaning and not hold them to account. Anyway, where was I? Yes, property might take a knock, but it's proved resilient to this sort of thing in the past and will do so again.

- Algarve Investor
- 12 December 2016 17:16 PM
Can we possibly have a ban on the word "Brexit" in 2017? I'm fed up of hearing about it. And it hasn't even properly happened yet.

It would be nice if all the uncertainty could just be over with. It's doing no favours to people like myself - with businesses that rely on good, close connections between us and Europe. I'd rather it was sorted out, either way, and we can all just get on with things. This endless uncertainty, speculation and will we/won't we is driving me, and many others I know, mad.