Homebuyers spooked by the UK’s decision to leave the EU
are pulling out of deals or attempting to renegotiate prices, according to
property professionals, as the housing market suffers Brexit vote aftershocks. One
property developer in central London, which had offered a “Brexit clause”
allowing nervous buyers to pull out of deals in the event of a leave vote said
it was allowing buyers to withdraw and keep their deposits. Consulting group
KPMG has forecast that prices could fall by 5% outside London, and more in the
capital, while commentators said a slowdown in sales which started ahead of the
referendum was likely to continue. Fearful of landing in immediate negative
equity, some buyers have decided to put their purchases on ice. Read more on
the Guardian website.
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