"The fact that 71% of those planning a home move did not see Brexit as an influencing factor in their decision making process is perhaps surprising news"
For most, a home move is driven primarily by personal circumstances rather than economics or politics, with 65% of respondents citing lifestyle changes such as a growing family or new job as the main reason behind their move.
The report also found that those aged 25-34 were most likely to be unaffected by Brexit, which is possibly unsurprising with 38% of the same age range citing a growing family as the reason for their move.
Additionally, less than one third expect house prices to fall over the next 12 months.
Brian Murphy, Head of Lending for Mortgage Advice Bureau, commented: “The fact that 71% of those planning a home move did not see Brexit as an influencing factor in their decision making process is perhaps surprising news for those who may want to paint a pessimistic picture of the current UK housing market.
“There would seem to be mixed opinion amongst consumers regarding what the future may hold for house prices with 30% expecting a fall over the next 12 months and 29% expecting them to rise as a result of the UK leaving the European Union. However, whilst property prices will undoubtedly continue to be a consideration for those planning their next home move, most would appear to be shrewd in their financial planning and are taking advantage of the plethora of competitive deals available, with over 58% of survey respondents choosing to fix their mortgage interest rate for five years or more, enabling them to budget for the long term by capping what for most is their largest single monthly expense.
"Overall, the poll gives us valuable insight into consumer sentiment and would indicate that homeowners who are motivated to move are not being swayed by the political negotiations, with consumer confidence in property seemingly still high.”
