Richard Carr comments on recent reports, which suggest that Asian investors are increasingly expressing interest in the British property market. Asian investor interest, these reports indicate, has climbed in the wake of Brexit.
Before the referendum, many experts raised fears that Brexit would dampen UK real estate sector activity. However, recent research indicates that the number of residential properties advertised for sale in the UK rose following Brexit, while average British house prices decreased by 0.2% on average. Meanwhile, mortgage availability remains mostly unchanged after the vote.
As property developer Richard Carr predicted, much of the post-Brexit gloom is lifting and many markets are predicting positive outlooks heading into 2017.
Brexit looks set to offer new opportunities
The fluctuations in many markets following the UK’s decision to leave the European Union are beginning to right themselves with the real estate market uncertainly appearing to be shorter lived and less severe than many investors first feared, according to new analysis.
LaSalle Investment Management’s mid-year Investment Strategy report said that the correction in real estate pricing is expected to be largely restricted in the next 18 months, whilst medium term capital inflows into real estate will only be interrupted, not reversed.
Also, besides from the country’s slightly unclear political landscape, given the UK’s ultra-low interest rate and bond yield environment, real estate yields are only expected to increase by 40 to 50 basis points by the end of 2017.
Poole-based businessman and property developer Richard Carr believes the United Kingdom will become a richer nation if it leaves the European Union on the 23rd June.
Richard Carr has been in business for three decades, during which he built a public limited company and enjoyed success in the nightlife and property development industries.
He believes the UK will be a stronger nation if the country decides to leave the European Union later this month.
“Once the shock of leaving the EU is digested it’s highly likely that the pound will rally,” he said. “As an isolated nation we won’t be affected by the redistribution of wealth that is likely to happen in the European Union.