Now that the country has voted to leave the European Union there is bound to be a period of uncertainty as government determines how we will manage the exit.
However long the ‘leave’ period is – and reports indicate it could be as much as two years – we need to remember that the fundamentals of the UK economy prior to the referendum were strong and we must therefore avoid falling into a self-propelled ‘paradox of thrift’ during this time.
Before the vote, my colleagues across the UK have seen confidence rise in the property market, supported by consistent occupier demand and, consequently, long-term investor returns. This is particularly true in the Thames Valley and with continued demand for housing, a highly skilled workforce, low unemployment, the forthcoming increased rail capacity of the Elizabeth Line and potential expansion of Heathrow, there is a huge amount to be positive about.
Whether or not you agree with the decision, we all need to make positive steps to ensure the economy continues to prosper. If anyone has any concerns on how this result impacts on their commercial property we will be pleased to provide advice.
