Opinions are divided over effects of Brexit
AS the government debates the intricacies of Britain leaving the European Union, estate agents across the UK are experiencing mixed trends with regards to its impact so far.
From the responses received following a recent survey, conducted by Relocation Agent Network among its members, there was a relatively even split between agents that have already begun to experience market trends that can be attributed to Brexit (46 per cent), and those that have not (54 per cent).
When looking at regional differences, the survey found that more respondents from the south (67 per cent) and south east (65 per cent) had experienced an impact from Brexit, compared with other regions in the UK.
The regions with the least respondents experiencing an impact from Brexit were those in the east midlands (12.5 per cent) and Yorkshire (14 per cent).
A similar divide emerged when member respondents were asked if they were expecting Brexit to impact their local market in the next six months.
Over half anticipated that the UK deciding to leave the EU will have an impact in the first half of the year, with 42 per cent believing it will not.
When it comes to specific trends experienced as a result of Brexit, a quarter of member respondents reported a decrease in sellers entering the market.
While a decline in the number of prospective home buyers was cited by respondents as the second most significant trend that may be attributed to Brexit.
Will Prescott from Holden and Prescott, the member of Relocation Agent Network in Macclesfield, said: “What the Relocation Agent Network survey tells us is that there are strong regional differences with regards to the impact that Brexit is having on local markets across the UK.
“In Macclesfield, we’re currently seeing a wide number of buyers in all price ranges registering with our office and yet the amount of available property is lower than normal for this time of year.
“Despite the wider implications of Brexit however, we are seeing plenty of motivated buyers searching for the right property.
“We encourage sellers to continue with their plans to move; spring time is only weeks away and is traditionally a popular time to enter the housing market, with 2017 being no exception.”
‘We are seeing a wide number of buyers in all price ranges’