At Consumer Intelligence, we have our own proprietary panel of Consumers that helps to inform us about the attitudes and behaviour of the UK population. The panel is highly prized and has produced some insightful results. For instance, our panel were able to predict the outcome of the UK General election last year.

We were recently commissioned by The Sunday Times to find out the thoughts that consumers have about the Referendum and especially what they were doing with their finances.

26% of respondents said that they were holding off from investing in the stock market until the result of the referendum is declared. Several investors have chosen to seek the safety of assets such as cash and gold.

As always with this work, the most insightful part of the research comes in the rich analysis that our panellists give us about why they have made their decisions. One respondent to the survey said that they had “cashed in some [shares] just in case the market falls dramatically.” Another said, “I have reverted to buying shares in companies that don’t have any involvement with Europe.” A third reported that they “did not invest the usual full stocks and shares Isa allowance due to referendum dates.”

Whatever the referendum result, the vote is likely to have an immediate impact on shares, property prices and currency.

Our CEO, Ian Hughes, said: “Consumers are bracing themselves for the consequences of a ‘leave’ vote, but when confidence and stability return to the market there could well be a mini-boom as we go back to business as usual.”

Banking on prices falling if Britain votes to leave the EU

Our survey did not only ask respondents about whether they’d be investing in the stock market. We also asked whether people might have postponed a house purchase in light of the referendum. Those who said they had were generally banking on prices falling if Britain votes to leave the EU.

One went so far as to say they were “hoping for a recession so we can actually afford to move from a flat into our first family home.” Another explained that: “we had planned to buy this year but if the ‘leave’ vote wins, we may be able to take advantage of lower prices. Not that we want to leave!”

Other respondents took a different tack: “we have postponed moving in case the market crashes and we are left with a mortgage bigger than the value of the house.” Their caution was echoed in another’s comments: “now that it’s nearing the vote, we’re holding off exchanging contracts.”

Indeed, a few respondents claimed they had taken money out of their pensions due to concerns about the outcome of the vote, with one saying they “withdrew a good few thousand straight away” and another that they had “moved pension into cash.”

Despite the fog of confusion that continues to surround the EU vote, our panellists seem clear in both their thoughts and their strategies for how to handle the outcome, whatever it may be.

Read the full Sunday times Article here.


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