The property market has stagnated since the referendum in June 2016. However, that doesn’t mean house prices have fallen – they have just risen at a slower pace. Mr Johnson has stated that he wants Brexit to take place on 31 October whether a deal has been agreed with the EU or not.

While MPs have constantly voted against the UK leaving the EU without a deal, the results are not binding in a legal sense. A no-deal Brexit remains the default if an agreement cannot be reached between the UK and EU. In July the Office for Budget Responsibility predicted that a no-deal Brexit would lead to house prices falling by almost 10% by mid-2021.

Looking further back, in September 2018 Bank of England governor Mark Carney warned that leaving the EU without a deal could send property values tumbling by a third, and in February this year he added that UK growth would be ‘guaranteed’ to fall in the event of a no-deal Brexit.

Finally, it’s important to remember that the fundamentals that drive house price growth remain the same – limited supply and historically low interest rates. So it’s unlikely we’ll see a house price crash unless these factors change significantly.

Read more: https://www.which.co.uk/news/2019/08/what-will-brexit-mean-for-house-prices/ - Which?