28 Jul '16, 11am

Brexit vote causes real estate interest, sales to wither #PropertyNews #RealEstate

BRITISH property website Rightmove said uncertainty created by last month's vote to leave the European Union had helped push down property transactions, in a further sign that the housing market could slow due to Brexit. House prices are key to consumer confidence in Britain, where many gauge the strength of the economy by rises in the value of their most expensive asset, but some housebuilders and estate agents have warned that demand may cool in the coming months. The Brexit vote caused buyer interest and expectations of future sales to wither at their fastest pace in years, according to a survey from the Royal Institution of Chartered Surveyors earlier this month. But Britain's third-largest housebuilder, Taylor Wimpey, said on Wednesday that the referendum result had no meaningful effect on its performance, with trading in line with normal patterns and helped by govern...

Full article: http://www.srx.com.sg/singapore-property-news/22012/brexi...

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