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24th June 2016
Britain has voted to leave the European Union in a referendum result which has sent shockwaves across the continent and triggered financial market turmoil across the globe. With all the votes in, 51.9% voted to end the UK’s 43-year membership of the EU, with 48.1% in favour of staying in. Shortly after the result was confirmed, David Cameron announced he would be stepping down as prime minister, commenting that the UK “requires fresh leadership” as it seeks to pull out of the union. Analysts immediately predicted a slowdown in transactions, and a halt to the steep price rises seen in recent times, with the long-term effect dependent on how severely Brexit impacts the economy. House price growth is expected to decelerate most in in London, with declines especially likely in high-value markets.