All Agent's Awards

Cross Keys Estate Agents All Agents Award

Please click HERE for more details of our most recent awards.

Back to top
  • Cross Keys Estates - Residential Sales and Lettings - Brexit and the possible effects on your house price

    Brexit and the possible effects on your house price

Property Portal Logos
  • Cross Keys Estates - Residential Sales and Lettings - Brexit and the possible effects on your house price
    Brexit and the possible effects on your house price

Brexit and the possible effects on your house price

Aug 2019

Back to Key Notes

Yes it is that “B” word again, and yes I know how fed up most of you are with hearing about it, but here is the thing, what will the Brexit effect have on your home?

Some of the big financial experts in the city have readily declared that a NO DEAL Brexit will have a catastrophic effect on your house value, your house income and your household expenditure. The only figures that have been quoted though is up to a 30% drop in property values although they haven’t actually given us any specifics. I have to say that in my two decades experience of being a property professional, I have heard these scare tactics before and they have in no way ever affected property prices in the south west to this extent in the past, despite the big London experts and their opinions.

The value of the pound is already dropping to an unexpected low with it almost being on parity with the euro at this current time due to the fact that there is a real chance of a “no deal Brexit” which had previous been thought to have been taken off the table due to all of our beloved politicians not being able to work together for the good of the country. This is similar to playing a game of poker when you actually show your opponent what cards you are playing with and then wonder why you are losing the game.

Gross Domestic Production (GDP) fell in the second Quarter (Apr to Jun) following the strong growth seen in the first Quarter (Jan to Mar), this was most certainly due to companies, and the general public, stock piling and building up reserves in readiness for the March 29th original date for leaving the EU. When this didn’t happen, these people and companies had enough reserves that they didn’t need to purchase these things in the second quarter, hence the strong growth followed by the drop, surely this is simply common sense.

Even with all the doom and gloom that is being batted around like a game of ping pong by the politicians, industry leaders and so called financial experts, one thing seems to have escaped them and that is the fact that life still goes on. We are already seeing more “Staycations” than ever before meaning more of our hard earned income now actually being spent in this country supporting our tourist trade and the thousands of people employed in it.

If we cannot get certain foods from abroad, we will have to buy more UK grown produce bringing more income to our UK produce businesses and farms. If we buy and use our own services rather than relying upon foreign imports our economy will grow. It is purely that we come to expect that we can have whatever we want to buy no matter where it comes from and no matter at what time of the year, it is with no thought as to what this has already done to our country’s GDP.

As for houses, as I see it, people will always want to have babies, babies grow into children, into teenagers, into adults and then into families of their own. People will continue to marry and divorce. People will relocate for work or for pleasure and the effects of all of this is that they will need a roof over their heads. Will the property market here in Devon go down? I think that the uncertainty of Brexit will have an effect but for us in the south west, it will probably be more of a slowdown effect on the market rather than a downward effect of the value of property.

Cross Keys Estate Agents Blog Header

Back to Key Notes

Properties of the Week

Cross Keys Estate Agents Sales Property of the Week 1

Sales Property 1

Devonport Road, Stoke

£400,000 to £440,000 Guide Price

2 4 3

Click to view details

Cross Keys Estate Agents Sales Property of the Week 2

Sales Property 2

Victoria Place, Stoke

£375,000 to £400,000 Guide Price

3 5 1

Click to view details

Cross Keys Estate Agents Lettings Property of the Week

Lettings Property

Manor Close, Ivybridge

£1,200 pcm

2 3 1

Click to view details

Rightmove Property Website Logo
PrimeLocation Property Website Logo
Zoopla Property Website Logo

Key Notes Blog

From Yorkshire to Plymouth

My husband and I relocated south to Plymouth from Yorkshire in April 2022 after a long time spent deliberating, weighing up the pros and cons and mostly trying to convince friends and family that we hadn’t gone completely crazy....


Condensation – the enemy within

It is well documented that we, as a nation, have had some particularly challenging times in the last few...


Plymouth As A Lifestyle Destination Part 2

Hello again everyone and welcome to the second instalment of my guide to different aspects of life in Plymouth....


A Drop in Temperature and a Drop in Prices

Hello again folks and welcome to autumn. Did you know that according to researchers, autumn is the least liked...


Plymouth As A Lifestyle Destination Part 1

Hello again folks, as we well and truly leave summer behind us, I thought I would take a moment...

National Association of Estate Agents Website Logo
Association of Residential Letting Agents Website Logo
National Federation Of Property Professionals Website Logo
The Property Ombudsman Website Logo