‘Bremain areas’ experience post Brexit property price increase

‘Bremain areas’ experience post Brexit property price increase

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During the referendum, Chancellor, George Osborne, warned that a vote to leave would trigger a sharp decrease in the value of UK properties.

However, the areas which had the highest proportion of Remain votes have actually seen average prices increase £61,785 since 2011.

According to research from online estate agents HouseSimple.com, average house prices have increased by 9% in Brexit strongholds compared to 18% in Remain areas. Across the entire sample of 80 councils, average house prices have risen 19% in Remain areas versus 15% for Leave.

London which voted to stay in the EU by 28 boroughs with 2.2million votes, has shown this fascinating correlation between referendum votes and property prices very clearly. All five boroughs who voted to leave have witnessed capital’s lowest property price increases since 2011.

Hackney, Lambeth and Islington, who voted to remain have experienced some of the biggest increases in property value in the capital.

Cambridge, which voted to Remain by 73.9%, second only to Edinburgh (74.4%) experienced the highest property price rise of 43% or £180,687.

Whereas, the average property prices have risen just £33,128 in the highest voting Brexit areas in the same period. Burnley and Hartlepool, house prices have already fallen by 8% and 5% respectively.