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What will Brexit mean for house prices?

There’s no denying that the uncertainty around when the UK will leave the EU, and the terms under which it may happen, is causing property market jitters.

The economic uncertainty caused by Brexit has undoubtedly affected the market, with house price growth slowing month on month and the number of sales taking a dramatic dip in recent months.

The Irish housing market has already been teetering on a knife-edge for over a year. While
supply-constrains are keeping Dublin prices buoyant, confidence amongst buyers is often
wanting and even if they can access finance successfully, many are nervous about buying at
the moment.

People are afraid of the unknown, we are treading on unchartered waters and with the past
housing crash still so vivid in our minds we now tend to be more cautious when making the
big decision on whether to jump on the property ladder or wait for what we hope to call
better times ahead. People are reading into articles published by The Central Bank warning
people of the negative effect that a hard Brexit will have on the property market in this country.

As a Real Estate Agent in a small Rural Town in Co Meath, Athboy a commuter town yes, we
have seen our market for the larger more expensive home slow dramatically in the past 6
months. The lower price end of the market is stable as our prices are still relatively low considering our proximity to Dublin.

Let’s hope we can have an orderly Brexit and then time will tell how our market will continue to grow in an orderly fashion.

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