Yesterday a My Home Move poll found that 65% of property professionals think a Brexit would be good for the housing market.
Estate agents voting to leave the European Union have been branded “turkeys voting for Christmas” by Nick Leeming from London agent Jackson-Stops & Staff.
Yesterday a My Home Move poll found that 65% of property professionals think a Brexit would be good for the housing market.
But Leeming, who was on a panel at today’s Great Housing Market Debate 2016 in London, said: “Some 65% of agents are in favour of Brexit which is like turkeys voting for Christmas.
“I can’t see confidence being improved by an exit vote and there would be a long period of uncertainty.”
Leeming raised concerns about interest rate shifts and a transitional phase after leaving where the UK would negotiate new trade deals.
David Smith, economics editor at The Sunday Times, said: “There is an assumption in the market that there will be a remain vote so a vote. To leave would be a shock: it would be an economic shock, a political shock and a shock in the markets. That shock would a negative impact on the housing market at least for a while.
“That doesn’t mean everything would stop in the housing market but it does mean a reduction in activity.”
Smith added that in the event of a Brexit bank funding costs would increase which would result in rising mortgage rates, employment prospects would be threatened and the flow of EU nationals coming to the UK would fall.
