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Home Buyers Abandon Purchases as Brexit Vote Fuels Slump Concern

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Steve Victor, a 33-year-old IT contractor from London, says he’s pulling out of the purchase of a new four-bedroom home in the town of Bedford after Britain voted to leave the European Union.

“I will lose my solicitor’s fees but after the shock outcome of the vote this morning, I have decided to pull out,” he said on Friday. “I am concerned about the country sliding into recession, interest rates rising and I think home prices will fall. I will get a better deal in the future when they do.” The home, about an hour by train from London, would have cost him 400,000 pounds ($550,000)