What impact would Grexit have on UK housing market?

Many people believe Greece could now exit from the Eurozone after Greek nationals rejected the terms of an international bailout in Sunday’s referendum. By voting ‘no’, the people of Greece have not chosen to return to the drachma. This is not a vote for ‘Grexit’. But there are some European officials who have already warned that creditors could take the ‘no’ vote to mean that Greeks had rejected further talks. So far the UK housing market has remained largely unaffected by the goings on in Greece, thanks partly to the fact that the UK is not part of the Eurozone and so it has not directly contributed to bailing out Greece since the country got into trouble after the financial crisis. The UK has only really provided a fraction of the assistance indirectly through its membership and contributions to the International Monetary Fund (IMF), and as a consequence, Jones Lang LaSalle believes that it is unlikely that even if Greece did leave the eurozone the UK’s housing market would end up being adversely affected. Commenting on the implications of a ‘Grexit’ from the Euro, Andrew Burrell (left), Head of Forecasting at JLL commented, “Our view is that real estate will…

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