How will Brexit affect your property’s value?
ON Thursday June 23 the nation heads to the polling booths to decide whether or not the UK stays part of the European Union. It’s been dubbed the Brexit debate and both sides of the discussion have plenty to say for their differing points of view.
Prime Minister David Cameron wants us to stay in and the current Mayor of London Boris Johnson and MP for South Uxbridge & Ruislip want us to get out.
But what will the Brexit result mean to the value of your home?
At Gibbs Gillespie we’ve looked at arguments for both the in and the out campaigns.We’ve thought about what could happen to the local property market based on both possible outcomes.
The truth is no one knows with absolute certainty.We’re entering unchartered territory and there are so many ‘experts’ cueing up to give their predictions that the law of averages says that many of them will be totally wrong.
However, our opinion, based on a lot of research, is that it will be business as usual until June 23, then more of the same thereafter.
The UK and London in particular is seen as a safe, stable and democratic haven for foreign property investors at the moment.
It would still be attractive to them even if the people decided they wanted out of the EU.This confidence in the UK from outside investors means regardless of the result big companies are unlikely
The team at Gibbs Gillespie’s High Street branch in Uxbridge have an in-depth knowledge of the local property market. to pull money out of the country, or take large numbers of jobs elsewhere.
All of this and a lot more besides has an effect on the property market and plays a part in the value of people’s homes, especially in areas like Middlesex, Hertfordshire and Buckinghamshire which benefit from the global strength and allure of London.
We don’t expect either outcome to have any negative impact on your property’s value.
So our advice is line with that famous sign from 1939, ‘Keep Calm and Carry On’.
If you have any questions whatsoever about the current property market or the value of your home please call 01895 272 742 or pop in to see us at 268 High Street, Uxbridge.