A survey of 1,200 people buying and selling shows that 13 per cent of those questioned “have now cancelled their move altogether following the vote to leave the European Union.”
The exercise, by Bishop’s Move removals company, shows that 55 per cent of those currently buying or selling want to complete their deal - including moving in to their new home - before Article 50 is triggered, which they fear may spark more uncertainty in the housing market.
“Our research previously found almost a quarter of those looking to buy and sell a property delayed their move by up to four months in order to wait for the outcome of the last general election” claims the firm’s sales and marketing director Chris Marshall.
“I’m concerned and very surprised that some have cancelled their move altogether. The last thing that property market needs now is for it to slow down” he says.
Marshall says there are already fewer properties available now compared to three years ago with reports suggesting 10 potential buyers for every property on the market.
“Usually the market would resume as ‘business as usual’ once big policy decisions are out of the way. However, homeowners may now have a prolonged period of uncertainty between now and when Article 50 is triggered, whenever that may be” he adds.