Young homeowners to wait after EU vote

Ryan Bembridge

March 4, 2016

Young homeowners will wait until after the European Union referendum before buying and selling, research from removals company Bishop’s Move suggests.

The research found that 43% of homeowners aged between 25-34 and 46% between 16-24 plan to wait until after June 23 before buying or selling.

Chris Marshall, sales & marketing director at Bishop’s Move, said: “We have often applauded the government’s initiatives to make housing more affordable for first-time buyers with schemes such as starter homes and Help to Buy.

“It has been the government holding the key to help young homeowners on to the ladder. Now, the tables have been turned and it seems young homeowners now hold the key which determines how the UK property market will perform in the coming months.

“Whilst these results point to a slowdown in the build-up to June, we fully anticipate business to resume as usual, particularly when the school holidays arrive and everyone wants to get their moves completed during the break.”

Last year Bishop’s Move found that a quarter of those looking to buy and sell in the UK delayed their move by one to four months to wait for the outcome of the general election.

Older homeowners are less bothered about the EU vote, as 16% of 45-54 year olds and 10% of over-55s will suspend moving.

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