Close Video

Housing market falters amid Brexit campaign and vote

14 July 2016

The supply of homes on the UK market fell at its sharpest rate to date and buyer demand hit an eight-year low as Brexit was confirmed, surveyors say. House prices are expected to fall across the UK in the next three months, the Royal Institution of Chartered Surveyors (Rics) survey suggested. The dip in prices is only expected to persist over the next year in London and East Anglia, surveyors predicted. This is the first significant housing survey judging the impact of Brexit. Economic performance The Rics survey reflects housing market sentiment among the institution’s members. In its June survey, it said surveyors across the whole of the UK were generally expecting prices to fall in the coming three months, with 27% more surveyors expecting to see prices decrease rather than rise in the near term. That will be welcomed by potential first-time buyers but met with disappointment by property investors and many homeowners. Source

Back to news