Personally, I am more inclined towards the sentiment of the public market investors who are assuming values will fall on the back of Brexit woes on the occupier side, and the interest rate environment should, in theory, push yields higher on the back of an inflationary environment and a weakening currency.
Time will tell. For now, values will hold up better than expected, driven by low interest rates and a strong inflow of Chinese capital.
As for Brexit, at some stage, it has to be priced into real estate values, particularly in London, which has, to date, taken the bulk of the benefit in terms of foreign direct investment in the UK.
In Ireland, which overall is a big loser from Britain exiting the EU, we are starting to see an influx of foreign companies that would normally have gone to the UK as their first port of call but are now forced to look elsewhere to access EU passporting.
To remove emotional bias from market analysis and to be patient as a cycle plays out, as it always does.
2018 preview: wise men of property
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2018 preview: values to hold up better than expected