A slump in house sales in the run-up to the EU vote is mirroring the uncertainty created during the Scottish independence campaign, says an estate agent.
The housing market is suffering a slowdown in parts of Tayside amid an estimated 5% reduction in the number of sales across the UK.
Kevin McGillivray, Miller Hendry Estate Agency’s valuation manager, said while he would expect the market to recover after a Remain vote, it is impossible to know what would happen if the UK left the EU.
He said there is a small but noticeable reduction in house sales on the same period last year in Dundee and Crieff.
Mr McGillivray said: “It was a very similar pattern in the weeks running up to the Scottish independence referendum.
“The Perth property market, however, seems unconcerned about Brexit with Miller Hendry’s Estate Agency reporting brusque sales and activity busier than usual for this time of year.
“Dundee and Crieff, on the other hand, appear to have slowed slightly. However, it is impossible to know what the impact will be on the property market if we vote to exit the EU.”
He said the market is “fully expected to bounce back” following a Remain vote.
George Osborne, the Chancellor for the Exchequer, said households were delaying purchases of houses and cars because of the uncertainty created by the referendum.
He told ITV’s Peston on Sunday that this is a “taste of things to come” if the UK votes for Brexit.
A spokesman for Scotland Stronger in Europe said voting for Remain will protect the housing sector by maintaining a strong economy base that keeps borrowing costs and prices down.
He said EU membership provides access to funding for social housing and “underpins the Scottish Government’s commitment to improve energy efficiency and tackle fuel poverty”.
“Only a vote to remain will ensure that these benefits, and many others, continue. There is so much to lose by leaving the EU that it simply isn’t worth the risk,” he said.
A Scottish Vote Leave spokesman said the Government has admitted that uncontrolled EU migration would see prices climb by 18%.
“Soaring house prices may sound fantastic for some, but for young people struggling to get a house, for families struggling with rent and with a huge housing shortage it isn’t.
“If we leave the EU we can take back control over our borders and over our economy, ensuring everyone can have an affordable home to live in, at an affordable rent
“Leaving the EU is one way we can ensure we tackle the housing crisis across Scotland.”
