If you want to read a copy of that original ‘post Brexit’
blog article, please visit my blog www.rutlandandstamfordpropertyblog.co.uk
and scroll back to late June to find it.
Now that the dust has settled a little, I will continue to look at what
affect the Rutland homeowners vote has had on their own property market so far.
In case you weren’t aware, the residents of the Rutland
County Council area voted as follows...
Rutland County Council ‘Remain’
Votes 11,353 (49.4% of the vote)
Rutland County Council ‘Leave’
Votes 11,613 (50.6% of the vote)
Rutland County Council Turnout: 78.1%
I have read there is some evidence to
indicate younger voters were vastly more likely to vote ‘Remain’ than their
parents and grandparents and, whilst the polling industry's techniques may have
been widely criticised (following them wrongly predicting both the 2010 General
Election and the Brexit results), anecdotally, many surveys seem to suggest
there was a relationship between age and likelihood to support leaving the EU.
Interestingly, the average age of a Rutland resident is 42.4
years old, which is above the national average of 39.3, which might go someway
to back up the way Rutlanders voted. What
I do know is that putting aside whether you were a ‘remain’ or ‘leave’ voter,
the vote to leave has, and will, create uncertainty and the last thing the
British property market needs is uncertainty (because as with previous episodes
of uncertainty in the UK economy – UK house prices have tended to go down).
Interestingly, when we look at the homeownership rates in
the Rutland County Council area, of the 10,716
properties that are owned in the Rutland County Council area (owned meaning
owned outright, owned with a mortgage or shared ownership), the age range
paints a noteworthy picture.
Age 16 to 34
homeowners 538
or 5.0% (Nationally
9.6%)
Age 35 to 49
homeowners 2,636 or 24.6% (Nationally 29.2%)
Age 50 to 64
homeowners 3,605 or 33.6% (Nationally 30.7%)
Aged 65+ homeowners
3,937 or 36.7% (Nationally 30.5%)
So, looking at these figures, and the high proportion of
older homeowners, you might think all the Rutland County Council area
homeowners would vote ‘remain’ to keep house prices stable and younger people would
vote ‘out’ so house prices come down- and they could afford to buy.
But, there's a risk in oversimplifying
this. The sample of the polling firms
are in the thousands whilst the country voted in its millions. Other
demographic influences have been at play in the way people voted, as early
evidence is starting to suggest that class, level of education, the levels of
immigration and ethnic diversity had an influence on the way the various parts
of the UK voted.
So what I suggest is this – Don’t assume
everyone over the age of 50 voted ‘Leave’ and don’t assume most 20
somethings backed ‘Remain’ - because many didn't!
… and the Rutland Property Market? Well,
read my original article in the Rutland Property Blog and you can make up your
own mind: www.rutlandandstamfordpropertyblog.co.uk
