In 2015 for the first time in the history, according to the poll, the number of Britons advocating a British exit from the EU has exceeded 50%. In 2017 the country will host a nationwide referendum on EU membership. More than half of residents believe that the referendum will have a significant impact on property prices.
Moreover, opinions are divided – about half of respondents believe that the price of their property will increase, the other half believes the opposite – that prices will fall in case of British exit from the European Union.
It is believed that the economic effect of the exit from the EU will be most felt in London, however, no common opinion concerning the direction in which the real estate prices will change.
When in 1973 the UK joined the European Union, the average price of housing was £9 045. During the following years the prices from year to year continued to increase: during UK stay as a member of the EU housing prices in the country on average increased by more than 2000%. It would seem that the EU membership had a positive effect on the UK property market, but the country's future in Europe remains uncertain.
Experts predict the largest decline in London, especially in the segment of luxury housing, Recalling that even the uncertainty ahead of the recent parliamentary elections in the long term literally paralyzed the market of elite housing (and until the end he never recovered), so that in case of a British exit from the EU, the consequences can be more serious.
According to the materials of propertywire.com
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