09:19 GMT +318 October 2019
Listen Live
    A branded balloon and mug are seen in the office of pro-Brexit group pressure group Leave.eu in London, Britain.

    UK's Exit From EU Could Reduce House, Rent Prices - Moody's

    © REUTERS / Neil Hall
    Get short URL
    0 24

    If the United Kingdom votes in favor of leaving the European Union, the house and rent prices in the country could drop, Moody’s Investors Service said in a press release on Wednesday.

    MOSCOW (Sputnik) — The agency recalled that London alone accounts for 24 percent of the UK's buy-to-let lending and 27 percent of rental housing.

    "A drop in the foreign population would have a cascading effect by lowering housing demand, which in turn would drive down the cost of rent and increase vacant periods," the agency said in a statement on its website.

    The rating agency said that prices for used cars could rise if post-Brexit trade agreements are less favorable for auto imports from the EU, as the United Kingdom is an auto importer.

    UK citizens are set to vote on June 23 in a referendum on the country's EU membership, after Prime Minister David Cameron and the leaders of the 27 European Union member states reached a deal in February to grant the United Kingdom a special status within the bloc.


    EU Labor Market Crisis Encourages South European Migrants to Head for UK
    UK Gov't Ready to Fund Port Talbot Steelworks Amid Tata Steel Exit
    IMF: Brexit Could Result in ‘Severe’ Regional, Global Damage
    prices, renting, Brexit, United Kingdom
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik