Brexit impactsFull coverage of property news and issues from the EU Referendum on 23 June.
Latest news on the EU Referendum
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.
The FTSE 100 almost hit an all-time high on Tuesday, rising above 7,000 points as the pound plunged to a new 31-year low against the dollar.
The willingness to lend against UK commercial property will not be impacted by the result of the UK’s decision to leave the European Union, according to the latest instalment of the Cushman & Wakefield European Lending Trends report.
F&C Real Estate Investments has revealed a net asset value total return of 7.5% for the year to 30 June, but has given a cautious assessment of the health of the property industry.
EU Referendum Comment
The scale of the redemptions from retail property funds in the immediate aftermath of the EU referendum may be less than first thought.
Following up on the findings of our sentiment survey, I want to highlight some further details behind the British Property Federation’s Brexit position (27.01.17).
Whether President Trump lasts his full four-year term or not, what we now know is we can take nothing for granted on the other side of the Atlantic.
Imagine you have been stranded on a desert island for three years with no news or internet whatsoever and have returned to the UK on the first day of 2017.
EU Referendum Analysis
In the run-up to the EU referendum last year, Britain’s biggest banking groups fired a series of warning shots. If the UK exits the single market and no longer has access to financial passporting rights afforded to the other EU member states, they would be forced to move workers overseas.
This week saw the launch of not one, not two, but three Brexit manifestos by the property industry.