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Brexit

A majority of people working in the property industry – nearly two-thirds – believe that leaving the EU would have a positive impact on the UK housing market.
Some 65% of agents and mortgage brokers are for Brexit.
The finding – by conveyancing giant My Home Move – is in stark contrast to warnings that the housing market will collapse if Britain votes to leave.
Ratings agency Fitch yesterday warned that house prices could crash by 25%.
The International Monetary Fund has also warned that property prices would go into reverse.
However, the My Home Move survey strongly suggests that agents will vote to leave the European Union.
The same survey does however say that the home moving public is much less decided with 53% unsure as to which way to vote.
These are among the findings ahead of My Home Move’s annual conference tomorrow.
The survey also found that most people working in the property industry (90%) believe that a lack of stock and high prices have become the new normal.
Interestingly, the 250 people polled preferred support for downsizers over help for first-time buyers.
A total of 61% wanted greater government help for downsizers, while just 21% wanted support for first-time buyers.
My Home Move chief executive Doug Crawford said: “The market has been suffering from a lack of stock and high house prices for several years, so we’re not surprised that those at the sharp end of the sector are frustrated by what has become the ‘new norm’.
“Recent Government changes to Stamp Duty, alongside schemes like Help to Buy, have kept the market going since the recession, but the findings from our survey would suggest that those closest to the market are seeking even more intervention to shake things up.
“Nearly two-thirds of the estate agents and brokers surveyed believe leaving the EU would be positive for the housing market; and 85% of home movers are seeking greater Government assistance for those trying to move up and down the housing ladder.
“However, despite the recent policy move to tax additional home buyers, as a way of encouraging more first-time buyers on to the market, there remains a level of scepticism that home ownership levels will rise above the current level by 2025, suggesting that without intervention market conditions would worsen and Generation Rent would become an even greater reality for many more people.”