As the dust settles following the Brexit vote on Thursday, many who had visions of selling their homes are now seeing buyers pulling out of deals or trying to renegotiate. The decision to leave the EU is having quite an impact on all areas of the UK, but none more immediate than in the UK housing market. House buyers are just one of the groups within the market who have become spooked by the outcome.

Some buyers had built in remedies in the case of a leave vote and are now exercising those options. A developer in the middle of London was offering a contingency in the case of a leave vote which enabled buyers to pull out of deals and keep their deposits.

David Humbles of Two Fifty One development commented on the impact of the vote, saying: “We can confirm that a few purchasers have decided not to proceed given the uncertainty of the market. However, the majority is continuing with their purchase and the marketing strategy to offer the pledge at the launch was a worthwhile exercise.”

Mortgage broker Coreco had several inquiries following the vote. Some clients questioned whether or not they should just put everything on hold for the time being.

David Nesbits of Nesbits estate agency in Portsmouth commented on the post period of the vote and a sale which had immediately fallen off the radar, saying: “It was someone who was connected with the stock market and because of the drop in the market decided not to go ahead.”

Some other agents believe the housing market could be in for months of uncertainty and deals falling through.