It's really happening. Britain has voted to leave the European Union.

In a result that has left many political observers stunned, British voters today decided to split from the European Union, walking away from a partnership of over 20 years because of an immigration focused scare campaign whipped up by far-right politicians.

The official results of the poll were declared early Friday morning, UK time, with Britons voting to leave by 52 to 48 per cent.

Over 33 million votes were cast.

How the poll worked.

Voters in England, Scotland, Wales and Northern Ireland went to the polls on June 23, and were asked the pretty simple question: “Should the United Kingdom remain a member of the European Union or leave the European Union?”.

While not a binding referendum, the British Government has committed to honouring the result, despite Prime Minister David Cameron being against any move to leave the EU.

British or Irish citizens who live in the UK, Commonwealth citizens (including of course, Australians) who are residents of the UK, British citizens who live overseas but have been registered to vote in the UK in the last 15 years and Irish citizens living overseas who were born in Northern Ireland and who have been registered to vote in Northern Ireland in the last 15 years were all eligible to vote.

That amounts to some 46 million people.

So, why did they vote to leave?

The European immigration crisis has caused an anxious debate in Britain as the European economy has struggled.

Since the economic meltdown of 2008, and the financial catastrophe in Greece, anxiety has grown about the benefits of remaining a part of the Union.

But the real kicker has been an aggressive negative campaign fueled by fear of immigration, and right-wing political parties linking terrorism and surging refugee numbers in the EU.

Nigel Farage, the leader of the conservative UKIP party has been at the forefront of the leave campaign, pushing an anti-immigration message hard.

Speaking after it became clear the leave campaign was likely to prevail, Farage said the win was a victory for Britain’s “independence”.

“We have fought against the multinationals, we have fought against the big merchant banks, we have fought against big politics, we have fought against lies, corruption and deceit.

“And today honesty, decency and belief in nation, I think now is going to win.

“And we will have done it without having to fight, without a single bullet being fired, we’d have done it by damned hard work on the ground,” he said.

What it means.

The immediate effect of the Brexit will be felt on global markets.  As the result became clear the pound dropped to its lowest level since 1985, and the Australian market has also been heavily hit.

Gold, traditionally seen as a “safe” investment, is up six per cent as people look to put their money somewhere stable.

Leaving the EU will not happen immediately, but will instead take a couple of years to be fully sorted out. It will mean changes to trade and immigration agreements, and will probably also affect employment and free movement between the UK and Europe.

It also causes a real headache for UK Prime Minister David Cameron, who strongly backed the remain campaign. He has since announced his intention to step down as Prime Minister, giving an October deadline for his prime-ministership.

Conservative former Major of London Boris Johnson was a massive supporter of the Leave campaign and will benefit politically from the result.

As dawn breaks in England, the landscape has changed significantly and no one is quite sure what comes next.

Facebook feature image: Getty/AFP Geoff Caddick