With the EU referendum taking headlines on a daily basis, property developer Richard Carr examines how leaving the EU would affect the UK’s property market.
The problem with referendum’s like leaving the EU and events such as the general election, they create an element of uncertainty which generally has a negative effect upon the housing market. As was seen in the run-up to this year’s general election, with buyers and investors unsure on which policies would be introduced the market stalled somewhat until clarity was achieved.
Richard Carr expects a similar situation as the referendum draws closer, buyers and sellers will want to play safe until an outcome is reached.
Analysists are only able to forecast and predict what impact leaving the EU will have upon the property industry and a lot of it will come down to how the economy is impacted generally. However, a survey conducted by KPMG found that 66% of real estate experts felt that leaving the EU would have a negative impact on inbound cross-border investment.