Close Menu
PAD MagazinePAD Magazine
    Pages
    • About PAD Magazine
    • Advertise
    • Contact
    • Contribute Property and Home Improvement related content
    • Home
    • Newsletter Advertising
    • Pad Team
    • Property & Development Magazine
    • Subscribe
    Facebook X (Twitter) Instagram
    • Contribute
    • About PAD Magazine
    • Pad Team
    X (Twitter) RSS
    PAD MagazinePAD Magazine
    • Home
    • New Builds
      • Sales & Marketing
      • Regeneration
      • Planning & Design
      • Sustainable Construction
    • Luxury Living
      • Interior Design
      • Lifestyle
      • Property Renovation & Refurbishment
      • Garden & Lanscaping
      • Home Decor
    • News
      • Software
      • Energy & Utilities
      • Affordable Housing
      • Environment
      • Plant & Machinery
      • Products & Materials
      • Infrastructure & Energy
    • About
      • Pad Team
      • Contribute Property and Home Improvement related content
    • Contact
    Subscribe
    PAD MagazinePAD Magazine
    You are at:Home London House Sales Break Down Amid Brexit Vote
    Products & Materials

    London House Sales Break Down Amid Brexit Vote

    PAD Editorial TeamBy PAD Editorial Team28/07/2016No Comments2 Mins Read1 Views
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
    London House Sales Break Down Amid Brexit Vote
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email

    It has been revealed that thousands of house sales throughout London have broken down following the Brexit vote as worried buyers pull out of ‘overpriced’ deals.

    The rise in the number of sales collapsing has come after it was announced that sales have fallen sharply since the EU referendum on June 23, with some surveys suggesting a drop of around 12%.

    The centre of the capital has suffered the most severe impact, with estate agents declaring that over 60% of offers they were handling on the day of the referendum have been renegotiated or withdrawn completely.

    As a direct consequence of the shock Brexit vote, several chains of deals involving family homes throughout the residential neighbourhoods of London and into the suburbs have been scuppered.

    Propcision, a property analysis firm, has produced data that suggests that the number of London property sales that have fallen through since the EU referendum has nearly doubled from about 5% to almost 10%.

    Henry Pryor, a property buyer, said that several agents were trying desperately to make sure that buyer and seller chains remained intact.

    Pryor commented: “I have even heard of the people at the top end of the chain offering to buy the £200,000 flat at the bottom end just to make it all work.”

    Meanwhile, reallymoving.com, a house move services website, has produced figures that show house prices in Central London have slumped by 12% in the first month following the Brexit vote, 10% of which came in the first week after the referendum at the peak of the political and economic uncertainty.

    See also  What You Need To Know About Installing Roof Access Hatches for Roofing Projects

    The company’s Chief Executive, Rob Houghton, said: “That was an unheard of fall, I’ve never seen a week where we’ve seen a change that dramatic.”

    Estate agents will be further concerned by the 44% figure of collapsed transactions as the market slowed down, in particular for the more expensive properties in the range of £3 million to £10 million.

    Share. Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Telegram Email
    Previous ArticleLiving Near a Park Can Add Up to £40,000 to Property Value
    Next Article Brexit: New Study Shows Only Two of Top 20 Rental Areas Voted to Remain in EU
    Avatar
    PAD Editorial Team

    Related Posts

    Drywall Access Doors: Designing for Functionality and Style in Architectural Projects

    27/06/2025

    Practical Uses of General-Purpose Access Doors in Residential and Commercial Renovations

    27/06/2025

    What You Need To Know About Installing Roof Access Hatches for Roofing Projects

    27/06/2025
    Leave A Reply Cancel Reply

    Search
    Categories
    • Affordable Housing
    • AI
    • Architecture
    • Art & Entertainment
    • Automotive
    • Awards
    • Beauty
    • Builds & Development
    • Business, Legal & Financial
    • Casino
    • Celebrities
    • Charity
    • Construction
    • Coronavirus
    • Corporate Social Responsibility
    • Crypto
    • Energy
    • Energy & Utilities
    • Environment
    • Events
    • Fashion
    • Finance
    • Gambling
    • Garden & Lanscaping
    • Health
    • Health and safety
    • Home Decor
    • Homes and Interiors
    • Infrastructure & Energy
    • Interior Design
    • International
    • Jobs & Training
    • Law
    • Leisure & Hospitality
    • Lifestyle
    • Luxury Living
    • Management & Estate Services
    • Manufacturing
    • Marketing
    • Medical
    • Net Worth
    • News
    • Op-Ed
    • Planning & Design
    • Plant & Machinery
    • Plumbing
    • Politics
    • Press Releases
    • Products & Materials
    • Property Renovation & Refurbishment
    • Regeneration
    • Sales & Marketing
    • Software
    • Sustainable Construction
    • Technologies
    • Tips
    • Tips
    • Travel & Tourism

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Common Boiler Problems in Huddersfield

    Making Wellness Accessible for First Time Buyers at L&Q at Bankside Gardens

    Why Tollingtons Fish Bar Has London’s Foodies Waiting in Line Every Weekend

    Eden Resort Portugal Review – What Makes It a Family Favorite Across Europe

    Common Boiler Problems in Huddersfield

    Making Wellness Accessible for First Time Buyers at L&Q at Bankside Gardens

    Why Tollingtons Fish Bar Has London’s Foodies Waiting in Line Every Weekend

    Eden Resort Portugal Review – What Makes It a Family Favorite Across Europe

    © 2025 ThemeSphere. Designed by Property & development.

    Type above and press Enter to search. Press Esc to cancel.

    Manage Cookie Consent
    To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
    Functional Always active
    The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
    Preferences
    The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
    Statistics
    The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
    Marketing
    The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
    Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
    View preferences
    {title} {title} {title}