Brexit Vote Seems to Be Weighing on UK Housing Market: BoE’s Woods

Britain’s housing market appears to be slowing due to the country’s decision last month to leave the European Union, new Bank of England Deputy Governor Sam Woods told lawmakers during an appointment hearing on Tuesday.

“We are just starting to see little bits of evidence around the housing market … all of that does seem to be consistent with a slowing of that market both in terms of pricing and expected activity,” Woods said, pointing to data from the Royal Institution of Chartered Surveyors, mortgage lender Halifax, and property website Rightmove.

“It seems to me quite plausible that the referendum and the uncertainty is having some effect in that market,” he told the Treasury Committee, which was reviewing his appointment.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.