PROPERTY PRICES MASSIVELY DIFFER BETWEEN REMAIN AND BREXIT AREAS
Property prices in areas with the highest Brexit vote have increased just 9% since 2011, compared to 18% in areas with the highest percentage Remain vote, according to research from online estate agents HouseSimple.com.
- Areas with the highest proportion of Remain votes have seen average prices increase £61,785 since 2011
- In stark contrast, average property prices have risen just £33,128 in the highest voting Brexit areas in the same period
- Prices in Burnley and Hartlepool, the areas with the strongest Brexit vote, have fallen 8% and 5%, respectively, since 2011
- Cambridge, which voted to Remain by 73.9%, second only to Edinburgh (74.4%) experienced the highest property price rise of 43% or £180,687
- In London, the five Brexit boroughs are amongst those with the capital’s lowest property price rises since 2011
- The boroughs with the highest Remain vote – Hackney, Lambeth and Islington – have experienced some of the biggest increases in property value in the capital
The research took a sample of 80 local authorities and how they voted in the recent EU referendum. HouseSimple then looked at the 20 areas with the highest percentage of Leave votes and 20 with the highest Remain votes and compared how property prices have fared in those areas over the past five years.
The findings reveal that average house prices have increased £33,128 (9%) in Brexit strongholds compared to £61,785 (18%) in Remain areas. Across the entire sample of 80 councils, average house prices have risen 19% in Remain areas versus 15% for Leave.
The areas with the highest Brexit vote – Burnley and Hartlepool – have seen the biggest decrease in property values in the UK since 2011; with prices down 8% (£2,792) and 5% (£9,805) respectively.
The following table shows the local authorities with the highest Brexit vote and how property prices have performed in the past five years:
| Local authority | % of Brexit vote | Property price – current (£) | % change in property price 2011-2016 |
| Hartlepool | 69.57% | £97,554 | -5% |
| Burnley | 66.61% | £72,584 | -8% |
| King’s Lynn and West Norfolk | 66.40% | £189,566 | 18% |
| Middlesbrough | 65.48% | £106,960 | -2% |
| Epping Forest | 62.69% | £440,140 | 25% |
| Wolverhampton | 62.57% | £129,049 | 2% |
| Dover | 62.15% | £217,322 | 16% |
| Stockton-on-Tees | 61.73% | £126,813 | 4% |
| Rochdale | 60.07% | £120,718 | 6% |
| Ashford | 59.43% | £261,718 | 20% |
| Stevenage | 59.25% | £259,954 | 23% |
| Wrexham | 59.04% | £144,115 | 4% |
| Maidstone | 58.75% | £267,132 | 22% |
| Portsmouth | 58.08% | £186,931 | 16% |
| Shropshire | 56.87% | £192,468 | 4% |
| Rugby | 56.70% | £204,618 | 24% |
| Cornwall | 56.52% | £213,184 | 7% |
| Darlington | 56.18% | £124,902 | -4% |
| Stafford | 55.99% | £187,720 | 5% |
| Newport | 55.99% | £142,592 | 7% |
| AVERAGE | 60.26% | £184,302 | 9% |
By comparison, Cambridge, which had the second highest percentage of Remain votes, after Edinburgh (74.4%), experienced a property price rise of 43% or £180,687 in the last five years and Brighton and Hove, which voted to Remain by 68.6% saw property prices increase 25% or £96,522 in the same period.
The following table shows the local authorities with the highest Remain vote and how property prices have performed in the last five years:
| Local authority | % of Remain vote | Property price – current (£) | % change in property price 2011-2016 |
| Edinburgh | 74.44% | £233,975 | 14% |
| Cambridge | 73.85% | £450,301 | 43% |
| Brighton and Hove | 68.62% | £335,192 | 25% |
| Stirling | 67.72% | £166,718 | 7% |
| Glasgow | 66.59% | £109,526 | 3% |
| Bristol | 61.73% | £242,562 | 25% |
| South Cambridgeshire | 60.23% | £356,084 | 25% |
| Cardiff | 60.02% | £189,405 | 19% |
| Dundee | 59.78% | £117,413 | 12% |
| Winchester | 58.93% | £386,372 | 23% |
| Warwick | 58.78% | £284,182 | 20% |
| Fife | 58.59% | £123,005 | 10% |
| Waverley | 58.39% | £436,613 | 18% |
| Liverpool | 58.19% | £117,429 | 6% |
| Gwynedd | 58.05% | £143,668 | 4% |
| York | 58.04% | £234,795 | 20% |
| Bath and North East Somerset | 57.85% | £307,381 | 16% |
| Rushcliffe | 57.55% | £239,128 | 16% |
| Wokingham | 56.69% | £407,986 | 29% |
| Norwich | 56.24% | £187,346 | 20% |
| AVERAGE | 61.26 | £253,454 | 18% |
London
In the capital, the five areas which voted to leave the European Union are amongst the London areas with the lowest property price increases in the last five years, with increases of 30% in Havering and Bexley, 34% in Sutton, 35% in Hillingdon and 37% in Barking and Dagenham – compared to the 41% London average.
On the other side of the fence; the boroughs with the highest Remain vote – Hackney, Lambeth and Islington – have experienced some of the biggest increases in property value in the capital since 2011. Property prices have risen 62% in Hackney to £533,875, 50% in Islington to £665,791 and 49% to £526,337.
The following table shows how each of the London boroughs voted and the percentage rise in property prices since 2011:
| Borough | Vote | % of the vote | Property price | % change in property price 2011-2016 |
| Barking and Dagenham | Leave | 62.44% | £271,828 | 37% |
| Barnet | Remain | 62.23% | £512,316 | 39% |
| Bexley | Leave | 62.95% | £311,587 | 30% |
| Brent | Remain | 59.74% | £485,870 | 45% |
| Bromley | Remain | 50.65% | £423,901 | 37% |
| Camden | Remain | 74.94% | £872,369 | 35% |
| City of Westminster | Remain | 68.97% | £975,595 | 45% |
| Croydon | Remain | 54.29% | £345,858 | 38% |
| Ealing | Remain | 60.40% | £477,627 | 39% |
| Enfield | Remain | 55.82% | £379,174 | 35% |
| Greenwich | Remain | 55.59% | £366,517 | 38% |
| Hackney | Remain | 78.48% | £533,875 | 62% |
| Hammersmith and Fulham | Remain | 70.02% | £780,863 | 45% |
| Haringey | Remain | 75.57% | £537,527 | 39% |
| Harrow | Remain | 54.63% | £451,907 | 32% |
| Havering | Leave | 69.66% | £333,446 | 30% |
| Hillingdon | Leave | 56.37% | £395,562 | 35% |
| Hounslow | Remain | 51.06% | £382,648 | 27% |
| Islington | Remain | 75.22% | £665,791 | 50% |
| Kensington and Chelsea | Remain | 68.69% | £1,314,702 | 35% |
| Kingston upon Thames | Remain | 61.61% | £484,213 | 43% |
| Lambeth | Remain | 78.62% | £526,337 | 49% |
| Lewisham | Remain | 69.86% | £410,126 | 50% |
| Merton | Remain | 62.94% | £505,712 | 47% |
| Newham | Remain | 52.84% | £347,584 | 43% |
| Redbridge | Remain | 53.97% | £386,014 | 27% |
| Richmond upon Thames | Remain | 69.29% | £650,955 | 42% |
| Southwark | Remain | 72.81% | £516,675 | 47% |
| Sutton | Leave | 53.72% | £357,563 | 34% |
| Tower Hamlets | Remain | 67.46% | £468,478 | 40% |
| Waltham Forest | Remain | 59.10% | £424,663 | 55% |
| Wandsworth | Remain | 75.03% | £606,611 | 45% |
Alex Gosling, CEO of online estate agents HouseSimple.com comments: “The Brexit vote certainly came as a surprise to many of us. What the longer-term impact of the out vote will be only time will tell, but we haven’t seen prices plummeting as the doom-mongers were predicting.
“What we do know is that areas with a strong Brexit vote are the areas that have seen less growth in property prices over the past five years. Of course it’s not cause and effect but it’s sure to have had some influence on voters’ decisions last week. And as we saw in the voting, the country is also divided when it comes to property growth. Many areas of the country, particularly in the North, haven’t enjoyed the boom times since 2011 experienced in London, which voted strongly to remain in the EU.”