With the nation waiting with bated breath to see how a Brexit Britain with pan out, there may be light at the end of a gloomy tunnel for some of the younger generation.
Research from Shelter has stated that 59% of people aged between 18 and 44 have put off life events, such as starting a family or getting married in order to try and tackle the housing market, and try and get a foot on the property ladder.
The research revealed that:
- 19% had experienced or expected a delay in finding job opportunities
- 11% thought they would have to delay retiring
- 16% had postponed getting married, or expected to
- 22% had put off having children, or thought they would have to in future
However, the expected house price slump which is being predicted following the Brexit vote could be good news for this so-called ‘Generation Pause’, who could find themselves in a more positive property position in the coming months.
In recent years, house prices have risen quicker than earnings, but the reshape of the country’s political landscape could change that, at least for a short time.
It is expected that nerves around making significant decisions, such as buying or selling property, might slow the market somewhat, possibly causing a drop in current prices. This could be great news for first time buyers who, with nothing to sell, are in the perfect position to snap up a bargain as prices fall.
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