How has Brexit impacted on Leave and Remain regions?
By |Published On: 18th August 2016|

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How has Brexit impacted on Leave and Remain regions?

By |Published On: 18th August 2016|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

An interesting new report from independent estate agent haart has looked at the impact on property prices in areas that voted differently in June’s EU referendum.

The investigation reveals that areas that voted for the UK to leave the EU have seen a positive effect in the property market. However, those who voted to remain have seen a substantial fall.


Figures from the report show the impact on property market confidence following the vote. Haart looked at registrations, listings and sales across 20 of its local branches.

Results indicate that ‘Remain’ branches saw a 6% drop in the number of listed properties. ‘Leave’ on the other hand saw a slight 1% increase. In fact, six out of ten Leave branches saw a rise in new listings.

However, the number of registrations fell in both Leave and Remain regions, down 30% on average in Remain locations and 23% for Leave areas.

Sales shift

The number of sales found to have fallen through in Leave branches was 2% lower than before the referendum. For Remain, sales falling through increased by more than 50% on average in the weeks following the historic vote.

Doncaster for example, where 69% of voters opted to Leave, saw a 25% rise in the number of new listings following the result. Wisbech, where 71% of people voted to Leave, saw a 9.6% rise in listings.

On the other hand, Great Shelford in South Cambridgeshire, where 60% of people voted to Remain, has seen a 42% drop in registrations. Similarly, Bristol, where 62% voted to Remain, saw a drop of new listings.

How has Brexit impacted on Leave and Remain regions?

How has Brexit impacted on Leave and Remain regions?

Referendum reality

Paul Smith, CEO of haart, observed, ‘it’s clear that the winners of the EU referendum are feeling much more confident about the future of the property market than those who voted Remain. The doom and gloom of the campaign has obviously had a lasting impact on how Remain voters feel about the economy and the property market, while Leave voters are much more relaxed. The areas that had the strongest Leave vote are even seeing a small surge in activity.’[1]

‘The reality is that we have a property market heavily driven by sentiment, and it’s the confident Leavers who are currently keeping the market afloat. If the government can continue to provide a strong vision for the UK’s post-Brexit future and a clear timetable for an EU exit, greater stability and confidence will follow, which might reassure Remainers. However if they can’t be convinced we could see the market and wider economy flat-lining for some time. Nevertheless the fundamentals of the residential market are strong, with people more determined than ever to get on to and move up the ladder, so we have every reason to be confident. When it comes to Brexit, it seems the only thing we have to fear is fear itself,’ he concluded.[1]



About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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