But what does this mean? There have been several points raised by the property industry. One argument put forward is that, if we were to leave, the European makeup of the current construction workforce may be put at risk and therefore leave housebuilders short staffed leading to less houses being built.
I have to ask though if this is really accurate. Wouldn't this just mean than more British people would be employed, more apprentice positions would be created and in turn we would end up with a more educated skilled British workforce?
A second argument raised is the effect a 'Brexit' would have on foreign buyers. Roughly 17% of London's prime market were sold to non-UK residents in 2014, and I am sure that some of these sales led to purchases here in Cornwall and the South West but it's very hard to track and establish a direct connection between the two. If foreign buyers are put off by the 'Brexit' then I would think the gap would be filled by those UK based buyers that are competing with the current foreign investors, and, while this may mean a slight dip in house prices, the London market is so strong it would soon recover.
The last point of discussion would be the reduced 'migration flow' impact of Britain leaving the EU, leading to less people moving to the country for work, reducing the demand on both the sales and rental market. This I can believe in, and I do think it would have an impact nationally, to what level however, it is very hard to say.