When The Clash sung this back in 1982, the last thing on their minds would have been Brexit, Europe or anything else along those lines, probably a decision on whether or not to stay on at a great party, to hell with the hangover – and why not?! That’s Rock n Roll for you! Even though it was only a few years earlier in 1973 when the UK joined the E.U, maybe they were penning a song for a future generation that none of them had any idea of? Who knows?…
…Fast forward 4 decades and with another long, turbulent week in politics you’ll know that the UK’s decision to leave the European Union is not exactly going smoothly. While negotiations are messy and the politicians on all sides argue about the course of action, the current plan remains for us to quit the Union at exactly 11pm on Friday March 29th 2019.
Scary stuff, especially with a few politicians already jumping ship, it’s not the best or most comforting of starts really, is it? – But what does this all mean for homeowners looking to move house or first time buyers getting on the ladder? Whilst we know that economic instability can sometimes play a part in a homeowners decision on whether to sell up or stay put, can the same be said for Brexit? Are homeowners also choosing to remain rather than move until the battle with Brussels is over? According to the news on the block, it doesn’t seem so.
As part of a recent survey from Home Owners Alliance, they asked homeowners who had considered a move but chosen not to what was behind their decision. While property prices and a lack of suitable homes were popular answers, just 11% said their decision to stay where they are was based on concerns over Brexit.
Experts on their site also added:
“If you’re planning on moving there’s no reason not to, there will always be people looking to buy. I think it’s very unlikely a buyer with their heart set on a property just like yours will decide against making an offer because they’re unsure what Brexit might do next.”
“The three D’s will continue to provide a supply of sellers over the next year – death, debt and divorce, won’t wait for Mrs May and Co to sort this out, but there will be far fewer buyers who ‘must’ purchase.”
“While this may strengthen once a Brexit deal is finalised there is no guarantee as to the outcome, and so those looking to sell should rest assured that now is as good a time as any to sell their home and later, might not necessarily be better.”
“I don’t think that the Brexit effect will really be seen until Q4 this year and Q1 next. Just like New Years Eve 1999 when people wondered if planes would fall out of the sky or if my microwave would stop working because of the Millennium Bug, I expect that 29th March next year will have a similar effect. Who seriously ‘knows’ what the impact of our actual divorce from Europe will be? Clearly, the experts in Westminster haven’t a clue so why should the poor public?”
It’s completely understandable that everyone – regardless of whether or not they own a home – is feeling a little uncertain right now as the political world descends into chaos and predicting what will happen later today becomes impossible, never mind looking ahead to next year. However, figures show very few people are putting off major life decisions – such as moving house – because of what’s happening in Parliament. And rightly so!