Ear after Brexit, the future of personal investments remains uncertain – and it will continue to be that way until 2019 at the earliest. The lack of agreements on the British and the EU sides casts a shadow over many homeowners and families who wonder how to best plan to maintain their lifestyles. The honest answer at the moment is that nobody knows. There are however some suggestions that could indicate that the British market would be able to maintain some investing freedom, namely the Norway model proposal for a post-Brexit economic. On the other hand, the inflation has risen and is above its 2% target and endangers the British economic health. In other words, it’s quite natural to feel overwhelmed by the mixture of Brexit fear and Brexit joy that is taking over the economy. It doesn’t take a professional investor to understand that Brexit will have impacts on your everyday lifestyle. Should you consider the worst-case scenario to be ready for the most negative side of the Brexit beast? That is, at least, what we’re trying to suggest with a little breakdown of how bad things could go.
Brexit and the confidence impact in the housing market
A large part of the British lifestyle is the ability to invest in properties. However, the combined impact of the inflation and the desire by banks to do right by their customers has led to a period of uncertainty. While mortgage rates are falling due to increased competition in this market, there are also fewer houses available on the property market. Indeed, as Brexit has yet failed to provide clear indications of its likely course, people are playing a secure game and not moving home. In fact, house transactions after the referendum fell 9% down compared to the previous year. Only one thing is for sure: the British public has lost confidence in the housing market. Consequently, most homeowners are stepping off the property ladder to stick to what they already have.
Brexit and the risk of less imported food
There have been rumours that the UK might run out of some food after the EU exit, as a result of a chaotic deal. At the moment, the EU provides almost one-third of Britain’s food supply. Brexit could leave you forced to cultivate your own vegs, using your best wellies, battery powered cultivators and organic seeds. If it sounds a little like the gardening lots from the post-war period, it may well be what some families will be forced into if the UK walks out of the EU without a decent deal. Is no deal really better than a bad deal., Theresa? We are left without an answer.
Brexit and your holiday plan
If you’re an avid traveller, you may say goodbye to your cheap holiday plans. After Brexit, there is currently no guarantee that the UK will be able to maintain cheap flights and borderless travel. In fact, the EU has been talking about implementing a visa system for American travellers, and there’s a possibility that this will apply to British holidaymakers too. Whether this will happen or make travelling more difficult, there is again no information on the subject. We can only hope for the best and prepare for the worst.
There’s a sense of austerity that emanates from the whole Brexit situation. There’s no saying whether we’ll be better off or not. But the uncertainty is weighing down on investment potentials in everyday life.