Fears over housing market in North East after viewing cancellations following Brexit
A North East property management company fears less people are thinking of buying a house after leaving the EU.
A North East letting and estate agents says less people are thinking of buying a house after leaving the EU.
Last week the UK voted to leave the EU, and shortly after Prime Minister David Cameron announced his resignation.
Now people across the North East are left with uncertainty over what happens next.
Belle Vue Estates, based in Gateshead, had three cancellations of house viewings in the first 10 minutes of opening their doors on Friday alone.
Paul Banning, Managing Director of Belle Vue Estates, said:
"It's very odd. We do get the odd cancellation that will come up because people have commitments, but for that to happen within ten minutes of opening was a surprise.
"I think it's the mortgages, because people who were going to do the viewings were looking towards buying properties and upsizing in the properties and obviously it's a concern for them how the money will be in the future.
"The North East has an awful lot of really good companies in the area and us specifically will work as a team and I'm sure we'll pull through in the end.
"I believe we've got two years, I believe, before things start to go in place. That's a long time, so I'm sure we'll see some change before then."
Meanwhile, businesses across the North East are planning their next move. The North East Chamber of Commerce told us that from a business prospective, change is always a concern.
James Ramsbotham, Chief Executive of the North East Chamber of Commerce said:
"Fairly soon EU funding is going to disappear in its entirety.
"We've got to really work hard to emphasise the great benefits we've got in this region, so that businesses feel attracted not only to stay here but actually to encourage more future investment.
"With our ports on the east coast of Britain facing into Europe, we've got to make the most of the tremendous international trade opportunities that we've built up over many years in the region, not just for Europe but right across the world.
"We really need to help everybody to find those opportunities."