How does Brexit affect you?

Published: 04/07/2016 By Empire Estates

The United Kingdom's decision to leave the European Union has hit the property sector over the past week, with a some banks freezing loans for buyers and some investors pulling out of deals.

Some overseas investors, however, are making the most of the drop in the pound to buy what they see as residential bargains. Properties in London are a magnet for foreign investors, and as a result of this, prices in the capital have sky-rocketed.

Britain's June 23 vote to leave the EU has already caused the government to collapse and deeply divided the country.


Regardless of the referendums outcome to leave the EU, it is widely predicted that the property market and financial sectors will stabilise and that the effects will only be short-term.