Tag Archives: Referendum



July 15 / Marketing, Property

State of Real Estate Market: July 2016

Each month we report on the current state of real estate, but this month has been dominated by one single topic: Brexit.

Yes, on June 24th we discovered that the UK will be saying ta’ra to the EU, leaving the world in a state of shock. And you can be damned sure that this has affected the state of real estate in July.

Property trusts suffer hard

There is often no better long-term investment plan than a property trust. But by their very nature, they will collapse in the event of mass-withdrawals. Post-Brexit, too many people have been trying to withdraw cash from these trusts, resulting in suspended accounts until the properties can be sold.

Commercial property is boosted

It’s not all doom and gloom, and a real boost to the commercial property market was delivered when the developers of the Cheesegrater in London (aka Leadenhall Building) announced that the building had been filled. With rent in the building reaching up to £100 per square metre, this is a real post-Brexit blues boost that the property sector has been needing.

Investment opportunities are rife

A US private equity firm this month announced it will be investing £1 billion in UK property, following the cut prices available, both to residential and commercials real estate. The opportunity for buyers is clear, and great deals are available among the uncertainty. We all know property bounces back, so now is the time to buy.

So there you have it. July 2016 was the month that Brexit dominated the property market. Let’s hope next month gives us respite and something else to talk about. But remember, now is the time to buy!

 

July 13 / Marketing, Property

Property in the UK after Brexit

52% of those reading this article will be thoroughly chuffed to see that the UK is moving away from the EU. 48% of you might be a little less chirpy.

Either way, PM Theresa May has said ‘Brexit means Brexit’ so it looks like we’ll have to deal with it and move forward.

So, we ask how this is affecting the property market in the UK, in the immediate aftermath of the unexpected result.

Firstly, what’s happening now? A lot, is the simple answer. For one, it turns out that some purchasers had ‘Brexit-clauses’ written into their contracts, that have allowed them to walk away from deals when the result went the way it did.

This, combined with smaller interest in property currently, has meant zero growth in the London property market, and a standstill during the Brexit period.

It has been widely reported that property trusts aren’t doing all too well either, since attempts to withdraw cash means property must be put up for sale. This takes time, and so some trusts have had to suspend withdrawals, due to too high demand.

But it isn’t all doom and gloom. For Britons looking to buy, now is the time! With prices not increasing, and less demand overall, a good deal on a property can be brokered.

So if you were a Remainer but were also in the market for a new home, look on the bright side and grab a bargain!

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