Brexit impactsFull coverage of property news and issues from the EU Referendum on 23 June.
Latest news on the EU Referendum
A draft report into the impact of the EU referendum on property funds has called for better communication from fund managers and the creation of a broader range of products for retail investors.
The property industry has expressed concerns about skills shortages and a fall in office occupier demand, in response to Theresa May’s ‘Brexit speech’ in which she revealed that the UK will leave the single market.
Housebuilder Taylor Wimpey has brushed aside fears over Brexit reporting the UK housing market remained resilient during the second half of the year.
Persimmon has reported that trading over the summer weeks following the EU referendum was encouraging, with the number of customers visiting sites remaining well ahead of last year.
UK commercial property values dropped in September, but at a slower pace than in July and August, suggesting concerns about the impact of Breixt are easing.
EU Referendum Comment
The month of March, dominated by Mipim, tends to act as the annual barometer of the property market, a bellwether of sentiment for the rest of the year. However, can we extend this analogy to incorporate the entire property cycle?
The UK’s decision to leave the EU has had no appreciable impact on the Irish property market to date.
The potential impact of Brexit has created a lot of expectancy regarding the positive impact it could have on the Dublin office market.
Whatever opportunities the UK’s exit from the EU throws up for the Dublin office market, Hibernia chief executive Kevin Nowlan plans to capitalise.