The UK housing market is returning to ‘business as usual’ after the vote to leave the EU, estate agents have claimed.
According to new research carried out by cloud-based estate agency software provider, Dezrez, almost two thirds - 64% - of the 172 estate agents surveyed do not believe that there is a need for a Brexit plan or strategy, despite a lack of clarity around the future of the UK.
Last week’s High Court ruling that only parliament could start the process of leaving the EU is likely delay the triggering of Article 50 extending the period of uncertainty in the housing market. But agents remain broadly upbeat with more than half - 53% - of those surveyed insisting that Brexit has not had any significant impact on their business to date, while 40% suggest say that Brexit has had some negative effect.
Similarly, 55% haven’t seen any change in property prices since the Brexit vote, while 37% suggest the vote has caused some turbulence in prices which has led to lost sales.
In the long term, just 23% of respondents believed that Brexit would have a long-term impact on their businesses, while 43% believed business would remain as usual, with 34% unsure of the effects.
“It’s fair to say there is still a picture of genuine uncertainty” said Justin Morris, CEO, Dezrez. “Looking on the bright side, the vast majority are unaffected, with a relatively small proportion seeing negative Brexit-related effects. The key will be how the markets respond once Article 50 is triggered.”