Independent Chartered Surveyors &
Commercial Property Agency

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The impact of the EU Referendum

Written by: Andrew Idle

01/07/2016 15:28

Last week’s Brexit referendum result caused immediate shock waves in the property sector.

But a week later, the FTSE 250 is said to have recovered all of the ground that it lost through the initial big share falls from house builders and property companies. It is claimed that construction activity will fall steeply in the immediate aftermath.

It was a very complex decision for the Electorate to have to vote on and one that became very fractious between politicians.

The biggest issue is uncertainty. There is a lot of political fallout from the decision and it will inevitably take some time before new political leaders get appointed and settled into their new roles.

The decision to leave could have ramifications for the concept of the United Kingdom, since Scotland and Northern Ireland were both strongly in favour of remaining.

If Scotland decided to hold a second referendum on independence and left the UK, what would happen to the financial services sector? Some have suggested that larger regional centres, especially Leeds, would probably gain from that at Edinburgh’s expense.

I have talked with many people who voted to remain as well as those who voted to leave.

Bradford overall voted to leave but Leeds voted to stay.

More comment in this article from Estates Gazette Intelligence.

Andrew Idle