Areas with highest Leave votes have had lowest house price growth

Areas of the UK with the highest proportion of votes for a Brexit have experienced the lowest house price growth since 2011, research has found.

Analysis of Land Registry data and the results of the EU referendum by online agent HouseSimple.com found that areas with the highest proportion of Remain votes saw average prices increase by £61,785 to £253,454 since 2011, while areas with more Brexit votes saw values up just £33,128 to £184,302 over the same period.

Prices in Burnley and Hartlepool, the areas with the strongest Brexit vote, have fallen 8% and 5% respectively since 2011 to £97,554 and £72,584.

Meanwhile, Cambridge, which voted to Remain by 73.9%, has had the highest property price rise of £180,687 since 2011 to £450,30.

In London, the five areas which voted to leave the EU are among the London areas with the lowest property price increases in the past five years, with increases of 30% in Havering and Bexley, 34% in Sutton, 35% in Hillingdon and 37% in Barking and Dagenham – compared to the 41% London average.

On the other side of the fence, the boroughs with the highest Remain vote – Hackney, Lambeth and Islington – have experienced some of the biggest increases in property value in the capital since 2011. Property prices have risen 62% in Hackney to £533,875, 50% in Islington to £665,791 and 49% in Lambeth to £526,337.

Alex Gosling, chief executive of HouseSimple.com, said: “The Brexit vote certainly came as a surprise to many of us. What the longer-term impact of the out vote will be, only time will tell, but we haven’t seen prices plummeting as the doom-mongers were predicting.

“What we do know is that areas with a strong Brexit vote are the areas that have seen less growth in property prices over the past five years.

“Of course it’s not cause and effect, but it’s sure to have had some influence on voters’ decisions. And as we saw in the voting, the country is also divided when it comes to property growth. Many areas of the country, particularly in the north, haven’t enjoyed the boom times since 2011 experienced in London, which voted strongly to remain in the EU.”

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