16:08 GMT27 July 2021
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    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.

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    Tags:
    prices, renting, Brexit, United Kingdom
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