The latest research by home moving experts AnyVan.com shows three quarters (74%) of millennials believe Brexit will impact their ability to move in the next two-years. British millennials have always lived in a country which is part of the wider European Union. However with Brexit now just 30 days away, times are about to change.
The new research from AnyVan shows younger adults face the biggest challenge for a home move in the aftermath of our EU exit. 74% of under 35-year-olds indicated Brexit is impacting their ability to move in the next two-years. Young buyers have always faced a tough task to get onto the property ladder, but with record house prices a fifth (21%) of millennials say Brexit will stop them being able to buy their first home or get a mortgage in the next two-years.
There has recently been a number of big retail casualties from the high street alongside other large firms like Honda and Dyson pulling the plug on their UK operation. 13% Brits are uncertain about their current employment and this is likely to hold them back from any home move. Both Cardiff and Leeds (17%) ranked highest for workers being uncertain about their job with Nottingham at 15%, Southampton at 12%, Liverpool at 11% and Manchester 10%.
A decrease in the value of the property is the biggest worry for most homeowners across the nation. Londoners are most worried about sliding property values, with nearly one in five (19%) of owners in the Capital fearing Brexit will push prices down over the next two-years.
Moving expert Angus Elphinstone, CEO of AnyVan.com said, “Our latest property research shows the impact of Brexit to young homeowners along with the next wave of first-time buyers. There just simply isn’t the confidence or funds available for a vast number of young movers. These are uncertain times and it will be very interesting to see how the property market reacts once we’ve exited the EU next month.“