THE impact of Brexit on the North-East housing market is unclear but an 'out' vote is not something to be feared, the North-East Property Forum concluded.

The event - hosted on Thursday by Darlington Building Society and attended by local property businesses - heard that it was the uncertainty the vote was creating, rather than the outcome itself which was of concern.

Gordon Carver, from Nick and Gordon Carver Estate Agents, said it was unclear how Brexit would affect the property market.

"Obviously if interest rates shoot up that will have a bearing and if jobs disappear that will also have a bearing.

"But I'm always more of a glass half full man than a glass half empty man and I'm fairly positive whichever way it goes."

Colin Fyfe, DBS chief executive, said financial markets did not like uncertainty and the impact of referendum, whatever the outcome, was unclear.

Although an 'out' vote may impact on exporting by North-East companies, Mr Fyfe said there was a theory that other countries would continue wanting to do business with Great Britain whatever the outcome.

"We don't see a material threat to our business, nor do we see material opportunities either.

"The most important thing is to get beyond the date (of the referendum)."

Martin Williamson, head of residential property at Latimer Hinks Solicitors, said he could not see any major issues rearing their head following an 'out' vote.

However, he warned there may continue to be uncertainty after the vote, particularly if the country voted for Brexit and this renewed the bid for Scottish independence.

The forum also heard from Ben Quaintrell, managing director of Darlington-based residential agency My Property Box on the state of the lettings market.

He said the market was healthy with his company experiencing its best March since its launch.

Mr Quaintrell said they were seeing people from Ireland and further afield investing in properties in the North-East to let.

"I don't think you can beat the North-East for investing in, especially if you're a new landlord and you're wanting to dip your toe in."

Mr Fyfe told the forum there was no sign yet of interest rate increases and his building society was now wondering if rates would increase this parliament.

He said DBS had launched services into Scotland and was now lending to people living overseas.

DBS would lend to people aged up to 85, with those in retirement often a better risk than those who were still in employment, he added.

Mr Williamson said the company had experienced a busy time up to the end of March due to the alterations in stamp duty rates, but had remained busy into April.

Mr Carver said his firm had been very busy up to the deadline, with the appetite for buy-to-let remaining strong.

Overall the business was up five per cent on last year, he added.

The forum heard that 450 houses were scheduled to be built in Darlington borough each year for the next 20 years, although it was felt just 200 homes were being built in the town at present.