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Many UK nationals living abroad may find the value of their property falling due to the fact that other UK citizens may be reluctant to purchase properties in these countries due to the uncertainty surrounding their ability to reside there long term. Less demand equates to lower prices. This could cause a collapse in the property market in numerous EU countries which would be exacerbated by the fact that these individuals may need to generate a quick sale so that they can leave and head back to the UK.
Similarly in the UK, many EU individuals who previously had brought properties here may query whether or not they would be allowed to stay in the UK and as such may seek to sell off properties at discounts thereby causing a reduction in the cost of housing within the UK. This may have a knock down effect through the UK housing stock. This may help people wanting to have access to properties in the UK however, or alternatively it could cause a loss of retained equity in properties, thereby reducing overall wealth.