A leading estate agency has claimed that the areas of England where a majority of people voted to leave the EU in 2016 have seen house prices increase twice as fast as those which voted to remain.
Hamptons International has processed government data from the Office for National Statistics and discovered that eight out of the ten areas in the UK with the strongest house price rises voted Leave.
These are mostly urban stretches of the North and Midlands and include the West Midlands, East Midlands, West Somerset, Birmingham and Nottingham.
In these areas house prices have increased by 12% on average since the EU Referendum while areas which voted Remain have only increased by 7%.
Hamptons International says it took the average sale price from the first five months of 2016 and compared it to the average price in the first five months of this year.
“House price growth was already slowing in London and the south due to affordability pressures: these areas had seen considerable price growth in the run up to the referendum,” says Aneisha Beveridge, head of research at Hamptons.
“The added uncertainty from the referendum result just exaggerated the slowdown.
“Affordability pressure is the main reason why house price growth in the Midlands and north has outpaced that in the south.”
Only two Remain areas made it into the top ten house price growth list; Southwark and Newham, both in London