Everybody is talking about it and indeed it came up several times at the Shakespeare Martineau conference yesterday – it seems that almost any business issue will be impacted by Brexit – but nobody knows quite how.
It was interesting to see that Galliard Homes are offering “Brexit clauses” into its contracts which give their buyers the right to pull out of a deal to buy a new home if Britain decides to leave the EU.
Those in favour of leaving will tell you that any negative prediction for the future is just “scare-mongering” but the Galliard action coupled with commercial property transactions markedly declining, we don’t need to predict – the evidence is there.
We would not seek to influence anyone either way but clearly the vote to leave will cause uncertainty in all markets – and all markets hate uncertainty.
However that type of uncertainty is likely to prolong our so-called austerity programme and the low interest rate regime which means that commercial property will remain an attractive investment option – just be careful which sector you choose.
