More “excellent” news resulting from the EU Referendum. Foxtons, a high-profile London estate agent, has announced a 43% fall in profits. It blames this on Brexit.
Of course, as any Brexiter knows full well, it simply is not possible for anything bad to come out of the vote to leave the EU, and the fact that Foxtons has seen its profits fall by 30% since the result must be down to some other reason. Possibly immigrants. Or Donald Trump.
The result of the referendum to leave Europe is likely to lead to a prolonged period of further uncertainty and we do not expect London residential property sales markets to show signs of recovery before the end of the year [said Foxtons CEO, Nic Budden]
…the UK’s biggest building society, the Nationwide, said that the Brexit effect on the property market and house prices could take months to become clear.
But remember. Britain may collapse economically. The pound may end up being worth less than a dollar. Unemployment may rise. Inflation may also rise. Fuel prices may rise. House prices may rise, or the markets fall. The evidence suggests these things are happening, and experts suggest that they will.
But everything will be all right. That guy from the soup kitchen in Blackpool said so.