12 months to the day since the historic vote, which saw us Brits waking up to 51.9 votes backing leave and 48.1 percent for remain, the country has since faced a mammoth task of developing a plan to exit the European Union.
So, what’s happened? We’ve looked at the impact Brexit has had so far:
June 24th 2016: The day of the shock result, Prime Minister David Cameron stepped down from his role stating that “the country requires fresh leadership to take it in this direction”.
July 4th 2016: Nigel Farage steps down as Ukip leader saying his “political ambition has been achieved”.
July 13th 2016: Mrs May was invited to form a government by the Queen and became Britain’s second ever female Prime Minister.
November 3rd 2016: The High Court stated that Theresa May had to give MPs a vote before triggering Article 50.
February 8th 2017: The House of Commons approved the Brexit bill, allowing the Prime Minister to begin withdrawal talks under Article 50.
March 29th 2017: Article 50 is triggered.
April 18th 2017: Theresa May called a snap election.
June 9th 2017: Theresa May’s election backfires with a catastrophic result for the Conservatives, wiping out their majority and leaving them seeking a deal with the DUP.
How has the vote impacted the economy?
Before the vote there were warnings from many economists that the UK would be sent into a recession by a leave vote but for six months after, the economy seemed to hold up surprisingly well, despite the value of the pound dropping sharply against the euro. However, recent weeks have started to show signs that we could still be in for a rough ride, as UK wage growth has slowed and started to lag behind inflation, many are starting to feel the squeeze.
How has the vote impacted the housing market?
Brexit appears to have contributed to a fall in the number of people moving home, with UK housing transactions down in the first half of the year, as many buyers and sellers took a wait and see approach. However, a survey of over 2,000 people by Spicerhaart, found that 75.2% of people haven’t let Brexit impact their decision to buy or sell their home and only 1.7% of buyers and 2.7% of sellers said it had changed their plans. Although there is still much uncertainty around how the UK housing market will fare, the shortage in housing could keep house prices in place where employment remains high.