13 percent of house sales collapse due to Brexit

house sales collapse due to Brexit

Thirteen percent of house sales collapse due to BREXIT.People in the middle of house sales have completely pulled out of the transaction because of Brexit. This is the claim of a new research study by a UK removal company.

Research also claims that half of homeowners currently going through house sales are trying to hurry the sale through.It says they are doing so in the hope it completes before the UK triggers Article 50.This comes despite many people being unsure about what Article 50 is or what impact it might have.

What is Article 50?

Article 50 is part of the Lisbon Treaty.It outlines a five point plan for any country wishing to leave the European Union.The UK must trigger Article 50 to make it official that we want to leave the EU.

Danny Luke, Quick Move Now’s managing director, commented:

Brexit has caused a huge amount of uncertainty in the property market.That uncertainty has sent people in one of two directions.Some are stepping back completely and adopting a ‘sit and wait’ approach, or they’re rushing to get a sale completed.

In truth, no one is really sure what will happen to the UK property market once we trigger Article 50.

Ultimately, we still have a major housing shortage in this country, and demand for property is still high.Unless we build a significant number of houses in the near future, which is looking unlikely, this will remain the case.

We can expect a dip in the market as many wait and see how things will play out, but in the long term people will still need homes and will still buy and sell property.

If market uncertainty means you’ve got a property that you’re struggling to sell, Quick Move Now could still buy it.

As the UK’s leading professional cash home buyer, Quick Move Now could buy your house in as little as 7 days.

For more information on how Quick Move Now could help with your house sale, call today on: 0800 068 3366 or fill in the free, no-obligation estimate form.

 

This content was written by Quick Move Now
Published on 15th August 2016
Last updated on 6th August 2018

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