Brexit

Brexit: property market in Remain areas performing worst

The post-Brexit property market is performing worst in areas that voted Remain during the EU Referendum, it has been claimed by agent group Spicerhaart. In what seems a strange twist to the EU Referendum debate, the multi-brand property group says sales in cities where the Remain vote was strongest have experienced a 50% increase in the number of abandoned sales compared to strongly Leave areas, where the number of abandoned sales decreased by two percent. Spicerhaart says it gathered the Brexit property research data from 20 of its branches, but the company is not specific about which cities they are in. But this is likely to include London, Cambridge, Oxford, Brighton, St Albans and Bristol where more than 60% of each city’s voters elected to remain in the EU. The company has branches in several of these Remain hotspots including its 70-plus Haart and Felicity J Lord branches in London, and its handful of Haart branches in Cambridge and Bristol. “With the announcement of a cut in interest rates, which will see the country’s cheapest ever mortgage rates fall ever further, it will not be long before we see a return in confidence and business as usual,” says Paul Smith,…

Read More »