Brexit impactsFull coverage of property news and issues from the EU Referendum on 23 June.
Latest news on the EU Referendum
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.
Regional REIT, the office and industrial property group, has said there has been “no discernable impact” following the Brexit vote as it revealed a 1.8% rise in the value of its assets in its half-year results.
EU Referendum Comment
To kick off the new year, Property Week asked our inaugural panel of regional experts to give their forecasts for the North East market in 2017 and, despite the challenges, the outlook is positive.
The ‘so far, so good’ post-referendum economic picture continued through the end of 2016. The IHS Markit’s Purchasing Managers’ Index (PMI) for December showed a rise in all-sector activity to a 17-month high.
It is not just lenders whose appetite for risk is waning in the wake of the EU referendum. Borrowers have also become a lot more circumspect, data on the commercial property debt market from Laxfield Capital has revealed.
Since the outcome of last June’s EU referendum there has been ongoing uncertainty over its impact on the UK real estate market.