WHAT DOES BREXIT MEAN TO UK PROPERTY INVESTORS & DEVELOPERS?
A commentary from Rick Nicholls, Managing Director, Bastien Jack Group Ltd, UK property developer. In short, we have opportunity. Initial shock at the prospect of leaving the EU sent the markets into decline, but have they not reacted pretty much as anticipated? Never letting a crisis go without opportunity, selling high to force a low, and then buy back? Since then there has been some indication stability is returning to the markets though GBP to USD and Euro are still trading lower. This is a good thing for UK exports, making them more competitive, assisting those companies that rely on export markets to grow. The UK vote for Brexit probably doesn't mean that the housing market in the UK is about collapse either. While some uncertainty in the short term may reduce house price growth, for the longer-term property investor, this could be a good opportunity for investing. The foreign property investor has a boost in value-for-money In the 24 h...