There’s no denying that Brexit, and the negotiations involved, have been a long and tiresome process. Before thinking about what will happen to property prices after Brexit, you might want to refresh your memory on the key Brexit events that have happened over the last five years. Here’s a Brexit timeline to remind you of what’s happened so far.
22nd February 2016
The Date for The EU Referendum Vote Announced
In February 2016, David Cameron announced that the UK would vote in an EU Referendum on 23rd June, officially launching the Brexit campaign.
23 June 2016
UK votes to leave the EU
In June 2016, the UK voted to leave the EU, with the leave campaign having won by 51.9% to 48.1%. David Cameron announced his resignation as prime minister the following day. In the month following the vote for Brexit, property prices in the UK fell by 1%, which was a bad sign for the Brexit effect on house prices, but a much less drastic drop than first expected.
13 July 2016
Theresa May Announced as Prime Minister
Less than a month after the Brexit vote, Theresa May was appointed as the new Prime Minister, having won the Conservative Party leadership contest by default.
29 March 2017
May Triggered Article 50 of the Lisbon Treaty
On 29th March 2017, Theresa May triggered article 50 of the Lisbon Treaty, prompting Brexit with a notice period of two years.
18 April 2017
Theresa May Announced Plans to Hold a Snap General Election
Theresa May called a snap general election in a bid to increase her authority in both the House of Commons and the public eye. This launched an electoral campaign between Conservative, Labour, SNP, Lib Dems, DUP and Sinn Féin.
8 June 2017
General Election Saw May Lose Majority and Make a Deal With the DUP
The final result of the 2017 general election saw no seats win a majority, with the conservatives losing seats to Labour and the Lib Dems in England and Wales. As a result, Theresa May was forced to make a deal with the DUP in order to stay in power.
15th January 2019
May’s Withdrawal Deal Draft Rejected
In January 2019, the UK Parliament held a vote to decide whether or not they accepted the Withdrawal Deal offered by Theresa May. This deal was rejected with just 202 votes for and 432 votes against.
13th March 2019
MPs say No to a No-Deal Brexit
Parliament voted in favour of a motion which aimed to rule out the UK leaving the EU without a deal, although the result of this vote was not legally binding.
10th April 2019
Deadline Pushed Back to 31st October
Despite the aim to leave the EU on 29 March this year, a new Brexit deadline of 31st October was announced due to the fact that Theresa May’s withdrawal agreement was rejected three times in total.
24 May 2019
Theresa May Resigns as PM
On the 24th May 2019, Theresa May announced that she was standing down as Prime Minister. On 24th July, May headed to Buckingham Palace to tender her resignation to the Queen.
24th July 2019
Boris Johnson New PM
Boris Johnson is appointed as the new leader of the conservative party, now heading up the Brexit campaign.
29th October 2019
UK Parliament Approve General Election
In a similar turn of events to the 2017 election, Boris Johnson calls for another snap general election. Parliament approves this and a new election campaign is launched ahead of the December election.
12 December 2019
Boris Wins Majority
Boris Johnson won the 2019 general election with a comfortable majority of 365 seats. This reignited the nation’s confidence in both the UK government and Brexit as a whole, causing experts to predict that after Brexit, property prices would remain stable.
9 January 2020
MPs back Withdrawal Agreement Bill
The Commons voted 330 to 231 in favour of Boris Johnson’s Withdrawal Agreement Bill – the bill that will implement the UK’s Brexit deal.
31 January 2020
Departure Day
The UK departed from the EU at 11 pm on 31st January 2020. The country has now reached the Brexit transition period before all agreements between the EU and the UK are made by the end of the year.
