Will a Brexit vote see a house price crash?

Both sides of the Brexit campaign agree that a vote to leave the European Union will see house prices fall.

Politicians, economists and other interested parties are queueing up with their opinions – but that is just all they are.

The real truth of the Brexit debate is both sides are hurling abuse and statistics at voters and each other in a bid to garner support for their arguments about whether or not Britain should remain in the EU.

The reality is no one knows what will happen to house prices or the larger British economy if we remain or leave.

Just look back over the forecasts made in the last six months by politicians, analysts and economists and just about everyone has undergone a major revision at least once.

The housing argument goes like this –

• Brexit remain campaigners such as Prime Minister David Cameron and Chancellor George Osborne claim house prices will fall by between 10% and 25% if the Brexit campaign wins the June 23, referendum making landlords and home owners poorer

• Brexit leave campaigners, led by Tory MP Boris Johnson agree house prices will likely fall, but first time buyers will find the housing crisis eases because fewer renters from the EU are allowed in to compete for housing

The point to bear in mind is the Brexit referendum is really a long-running spat between the Tories that Cameron and his supporters want to see end.

If the country votes to remain in Europe, then those on the Brexit side of the aisle will have no mandate to argue their claims that Britain is better off outside the EU.

Boris Johnson has staked his political reputation on winning the Brexit referendum, which is a vote few people want or care about.

For landlords, a vote to remain or leave might make them poorer on paper because the value of their housing assets may fall for a while, but it won’t greatly affect the number of people who still can’t afford to buy and have to rent.