One in three moving because of Brexit

Ryan Bembridge

March 25, 2019

A third (33%) of homeowners who moved since 2016 said their decision was due to Brexit concerns, research from Trussle found.

Of those who’ve moved in the past three years, 18% claim they felt ‘forced’ to act after losing confidence in the housing market due to Brexit uncertainty. Meanwhile, 15% said their move was driven by a desire to live abroad due to Brexit.

Ishaan Malhi (pictured), chief executive of Trussle, said: “People have been discussing the Brexit-effect on the housing market since the EU referendum, and have continued to speculate about what lies ahead for our future economy.

“It’s alarming to think that so many homeowners cite Brexit as their main motivation. Add to that the one million homeowners who aren’t putting their home on the market due to uncertainty – and the picture initially appears pretty bleak.

“But, despite the UK’s post-Brexit landscape being no clearer, there are plenty of positive signs of movement elsewhere. Remortgaging activity recently reached its highest peak in nine years and more people are considering a move in the next three years.

“In many ways, the housing market’s proving its resilience in the face of uncertainty. As the future becomes clearer, we could see it turbocharged.

“In the meantime, the industry should be going above and beyond to offer the best possible advice and reassure current and future homeowners during this ongoing period of uncertainty.”

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