After Brexit UK consumers ditch the spending plans



After the shock vote to leave EU are ditching plans to buy properties, homes and they are looking to work abroad. State agent hart told that the 11% rise in the number of people selling their property as compare to the June 2015.

According to the Indeed people are more looking for their jobs in abroad like in Iceland, US and Australia.

As well as a survey was conducted on the both times before and after vote, now the people are looking less confidence than before the poll was conducted there is a crash in consumers’ confidence.

Another survey shows that more than third people are cutting back on the large amount of transactions like on holidays and to buy a new television or furniture etc.

One of the IT consultant said that IT is the first thing to be cut by many companies in the time of economic issues. Many discussions have been pot ponded and even companies are not hiring a new staff.

A research show that before the vote the demand of property is already fallen to a three-year low.

The votes have effected properties, business and traveling as many people are now cutting off by their plans like holidays etc. and if anyone has taken a loan to buy a new house now they are selling that house to return that loan as soon as possible because they knew that their finance is not stable and taxes are going to be increased therefore people have canceled there all the future plans and waiting to get a stable economy as soon as possible.

Chris Ferguson

About Chris Ferguson

Chris formed Credence to bring credible financial advice to the offshore marketplace. Chris has been in financial services throughout his whole career, with experience in the GCC, United States, United Kingdom and Australia. Chris entered the financial services sector to enable as many people as possible benefit from freedom and choice in life by making good decisions rather than experiencing stress and anxiety over money.

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