Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Half of Brits Say Brexit Has Harmed UK Housing Market, Survey Finds

A decade after the Brexit referendum, 50% of Brits believe that leaving the EU has ultimately harmed the UK housing market, according to research from Together. The survey found that more respondents believe Brexit has had a negative impact on the housing market than a positive one.

The research highlighted that affordability pressures, higher costs, and increased interest rates for potential buyers continue to shape public opinion. Wider economic and geopolitical concerns were also noted as influencing these perceptions.

Of those surveyed, 28% said Brexit harmed the market a lot, while 22% said it harmed it a little. Regional differences were observed, with 47% in Scotland, 37% in the North East, and 33% in the North West of England stating that Brexit harmed the market a lot.

In contrast, only 24% of respondents said Brexit had ultimately helped the housing market, and just 9% believed it significantly improved the market. In London, only 19% thought Brexit helped boost the market, while in the West Midlands, the figure was 11%.

The report also noted that Brexit introduced new trade barriers and supply chain friction, which have affected the costs of new builds and led to a reduction in EU construction workers. These factors, along with increased red tape, may have impacted the viability of housing developments and contributed to weak demand.

While overall UK property prices have remained relatively stable, the report stated that London has seen cooling due to a drop in international buyers and EU nationals. This has led some developers, investors, and homebuyers to look to the North and Midlands for better value.

The findings underline ongoing concerns about economic stability, reduced consumer confidence, and investment hesitancy in the housing sector. The report concluded that the long-term health of the housing market will depend on affordability, housing supply, and economic confidence.