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Exit Strategy

Posted on 28 June 2016
Exit Strategy

Its been a week of Euro exits with the fate of Northern Ireland, along with the rest of the UK, apparently sealed by the will of the majority, and of course an own goal.

While the football team and their fans were welcomed with open arms across France, and praised across the world, the UK’s ballot box decision to sever ties with the European Union did not enjoy the same level of warmth from our continental cousins.

The initial panic which caused chaos in financial markets has subsided but uncertainty remains over what will happen next, and indeed what the effects of the Brexit vote will be in real terms.

Alarmists will point to profit warnings from leading UK estate agents, while the more pragmatic will reflect on a possible house buying surge by foreign investors taking advantage of the falling pound.

With an October deadline for moving forward, as issued by outgoing Prime Minister David Cameron, we have a timetable for change although what that change will bring isn’t known. Realists in the housing market are braced for a possible stall, and until the implications of the vote become clear there will of course be concern and unease among homeowners.

Amid all the doubt, however, is one certainty: the dynamics of supply and demand are unlikely to alter dramatically. People will always need somewhere to live, whether in the European Union or outside it, and Brexit whatever happens, won’t change that.