Will house prices fall after Brexit, and where will be the best places to buy?

In 2019, 13pc of buyers leaving the capital bought in the North and 15pc in the Midlands, up from respective 2009 rates of 1 and 5pc.

Their age has fallen too. Last year, people moved out of London at an average age of 39, according to Hamptons, down from 41 in 2018 and 47 in 2009. It is the lowest age on record and the number suggests that people are leaving the capital not just to buy a larger home, but because it is the only way they can get on the housing ladder.

“There are only two things that can improve the market,” says Richard Donnell, research director at the property portal Zoopla: even lower mortgage rates, which seems unlikely considering how low they already are, or improved earnings growth.

Wages have increased over the last year at a higher rate than house prices, says Mr Donnell, so things could be looking up.

But Brexit can’t hold much sway over these factors, unless it has a significant impact on the employment market. It’s tricky to see how the terms of the withdrawal agreement are likely to have particular economic significance for the average person, says Mr Donnell.

What Brexit could affect are markets that have a substantial proportion of overseas buyers – primarily London.

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