AN INVESTIGATION INTO THE SHORT TERM EFFECT THAT BREXIT HAS HAD ON BRISTOL’S PROPERTY MARKET

Abstract

The topic and process of the UK’s withdrawal from the European Union, known as “Brexit” has created mixed views and understanding of what potential implications can arise. The Brexit topic has opened up many debates throughout economic, legal and political fields regarding its importance and meaning. A review of the literature exposed a gap in the research concerning professional and public opinion regarding Brexit’s implications on the Bristol property market. The purpose of this study was to examine the current literature and impact surrounding Brexit, particularly on the Property market. The study consisted of two research questions which had the aim of being addressed throughout the study. The first objective was to uncover the views of professionals regarding issues of Brexit for Business and the Property Market, with a focus on the Bristol property market in particular. The second objective set out from the researcher was to gain a better understanding of whether Brexit has affected or prepared individuals in regards to their movement in the property market. This objective focused on discovering the public’s point of view surrounding Brexit, and if the process had yet to impact any informed decisions. Data has been collected from journals, interviews, newspapers, and published reports to grasp existing conceptual background surrounding the topic, along with identifying any new trends and information. Both qualitative and quantitative research methods were conducted during this study to collect data concerning the research question and objectives. These data collection methods included semi structured interviews along with an online survey. The data collected was analysed using different analytical techniques such as coding. The methodology structure enabled the researcher to build a detailed plan of how to undertake and collect data in an organized manner. The results from the research underpinned themes that were collected through the data analysis technique of coding. Results from the semi structured interviews conducted by the research included themes such as the impact uncertainty of Brexit has had on the property market, along with the research and advice professionals in the field had undertaken and given. The online survey results demonstrated that Brexit has made an impact and an impression on the public. The results from the survey found that a majority of the public had been put off either buying or selling in the property market with Brexit uncertainty still looming. The results also indicated that a large majority of respondents see Brexit as a negative decision for the future and current climate. The research also provides recommendations about what could have been done differently, together with recommended future research titles that has been exposed during this research.