National estate agent sees surge in viewings a week after the Brexit vote

Thu 14 Jul 2016

Estate agent Leaders has seen a surge in requests for viewings and property details a week after the Brexit vote, contradicting predictions of a property crash.

In the week following the referendum, Leaders saw the number of viewings requested go up by a significant 50% on the previous week and property details viewed online go up by 18%.

Leaders has also seen new instructions to sell, sales agreed and exchanges remain at similar levels to before the vote and has seen no increase in sales falling through.

Kevin Shaw, national sales director at Leaders, said: “Our stats show that Brexit’s impact on the property market may not be as extreme as many predicted. The picture post-Brexit is business as usual. People who had perhaps been delaying plans to move until after the referendum are now starting to look at what’s available.

“The UK’s housing market is very resilient and well placed to stand up to the uncertainties surrounding it. This has been proven before, for example, when within 18 months of the financial crisis it began to flourish once again.

“Now that the uncertainty of in or out is over, people want to get on with their plans and won’t be willing or able to wait two or more years until the Brexit negotiations have been finalised. People will always need a roof over their head and need to move home, and we expect demand to remain strong.

“We will be working very closely with vendors and buyers to ensure this confidence in the market remains.”

Craig Vile, from online property valuation tool, Valpal, used by Leaders and thousands of other agent branches across the country, said: “This is a trend that we are seeing nationally. The same number of people are going online to value their properties via agents’ websites, and we have not seen any drop off in interest in valuing and selling houses so far.

“Potential vendors should keep an eye on the value of their properties over the next few months with help from their agents, but there is no reason why confidence in the market should decrease as the economy starts to settle after the recent blip.”

With reports of the impact of Brexit ongoing and the economy still seeing shock waves it is difficult to say what the future holds, but the news from the people on the ground at the moment is that certainly the property market has yet to see any severe repercussions.