Brexit: What it means for London’s Property Market
Brexit: What it means for London’s Property Market
Posted by: Sam Edington - 04/07/2016

When the markets were caught out by the unexpected Brexit vote, it is not surprising that they reacted strongly,  and probably over reacted, to the news. We hear daily about the potential negative impacts – job losses, loss of access to the EU market, UK politics without leadership, and so on.  In these uncertain times, it is important to look beyond the froth to the fundamentals – so what are the base characteristics that support the London residential property? The capital of the worlds 5th largest economy is just that – a major world city with all the attractive characteristics which have made it such a great city to live in. 

There will still be a growing population, building new homes to keep up will remain challenging, interest rates will remain low, the weaker pound will attract new investment from oversees buyers and of course people will still get married, upsize, downsize and generally keep the market dynamic. And when all the dust has settled the core UK characteristics will not have gone away – our geographical position in the world, a stable democracy, the language, the culture, the legal system, and so on.

And on the Brexit front, when the grieving is over and a new Prime Minister is in place, we will be on a journey to a good destination. Getting there will involve strong leadership, new trade agreements, accessing new markets, reducing red tape for business, tax incentives and infrastructure investment. You could see Britain at its best with individuals and businesses showing new levels of determination to ensure that the country continues to prosper so that our children and grandchildren will look back to a positive rather than a negative outcome to the nations referendums decision. The fundamentals of London property are excellent – our heads are telling us that – and soon our hearts will be as well. 

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