Split opinion on whether Brexit is impacting local markets – says national estate agency survey

March 06, 2017

As the Government debates the intricacies of Britain leaving the European Union, widely

known as ‘Brexit’, local 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 amongst its members – including <insert company name> – there was a relatively

even split between agents that have already begun to experience market trends that can be

attributed to Brexit (46%), and those that have not (54%).

When looking at regional differences, the survey found that more respondents from the

South (67%) and South East (65%) 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%) and Yorkshire (14%).

A similar divide emerged when member respondents were asked if they were expecting

Brexit to impact their local market in the next six months. 58% anticipated that the UK

deciding to leave the EU will have an impact in the first half of the year, with 42% 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. Whilst 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.

Richard Powell from Ryder & Dutton, the member of

Relocation Agent Network for our local area 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. 

“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,

as springtime is only weeks away and is traditionally a popular time to enter the housing

market, with 2017 being no exception. So contact us today, as Relocation Agent Network’s

appointed Local Expert, we have exclusive access to out of town

buyers moving into the area.”