Jackson-Stops has surveyed 1,100 clients to understand the impact that Brexit and stamp duty are having on their property decisions, and discovered that nearly three quarters are unworried by the ongoing Brexit impasse, while only 14% thought a no-deal exit from the EU would affect their decision to sell.
Recent reports have suggested that would-be sellers are put off by ‘muted pricing power’ and ‘short-term political uncertainty’. But Jackson-Stops’ found that 70% of homeowners who planned to sell this year said uncertainty around Brexit didn’t deter them from doing so.
That’s just 9% lower than Jackson-Stops’ 2017 research, which asked the same question – 79% of active home sellers stated political uncertainty did not deter them from listing their home.
The data also revealed that in an event of a no-deal Brexit, 39% of respondents said that it would have no impact at all on their home buying decisions. Meanwhile, just 14% of UK consumers believe a no-deal Brexit would have a strong impact on their decision to put their home on the market.
Boris and SDLT
It is widely reported that stamp duty land tax (SDLT) is disrupting the housing market, but Jackson-Stops research reveals that 41% of buyers and sellers, believe a wholesale reduction in SDLT is required across all brackets after Boris said he planned to overhaul stamp duty charges. Yet since then there has not been any clarification from the Prime 55% of Jackson-Stops’ respondents, sadly, believe housing is not a priority for Boris.
“Although the UK lacks confidence in Boris Johnson’s ability to prioritise improving the housing market, it is positive to see so many respondents unfazed by the prospect of leaving the EU,” says Nick Leeming, Chairman of Jackson-Stops (left).