6 ISSUES FOR JUST £6 Subscribe to Business & Professional Life today CLICK HERE

Leaving the EU would challenge the UK property market, according to research by Carter Jonas

PUBLISHED: 16:48 16 February 2016 | UPDATED: 16:48 16 February 2016

Mark Charter Head of Carter Jonas' Oxford office HS

Mark Charter Head of Carter Jonas' Oxford office HS

Archant

As the Prime Minister embarks on a renegotiation of EU membership terms, findings from a poll of leading property experts show that nearly two thirds, 65%, believe that a Brexit would have a negative impact on investment in UK property.

Darren Yates, Head of Research, Carter Jonas, said: “Whilst the EU referendum campaign is still in its early stages, the majority of the property industry are concerned that a Brexit would make the UK less attractive for investment. There is a distinct uneasiness about leaving the European Union. Only around a fifth of those polled - 22% - believe that a Brexit would have no effect on investment, while just 13% think that it would have a positive impact.”

However, the poll also suggests that a potential Brexit is only one of the major challenges facing UK property over the next two years. Respondents also highlighted concerns about the housing shortage, rising construction costs and the prospect of higher interest rates, in addition to the property industry skills shortage and planning reforms.

Mark Charter, head of Carter Jonas’ Oxford office said, “Regardless of the ‘in or out’ debate, people in the property industry want certainty. As we saw before the referendum on Scottish independence, many occupiers and investors delayed their decision-making. We expect a similar ‘wait-and-see’ approach as the EU referendum draws near, which could impact on sentiment and activity. While UK plc will survive whatever the outcome, a Brexit would lead to more uncertainty while the new arrangements were negotiated.”

Darren Yates continued: “If there is a vote to stay in, we would expect a swift return to ‘business as usual’. However, should we vote to leave the EU, the potential impact is likely to vary across different parts of the market. Ultimately, it will depend on the nature of the new UK-EU relationship but, for example, there would initially be questions around the degree of market access to the EU for UK manufacturers and financial services firms. There would also need to be clarity around future support for the UK farming industry.”

In the longer term, in or out of the EU, “fundamentals” will continue to drive the UK property market. Moreover, as an open, large and growing market of over 60 million people, the UK would remain a very attractive place to do business. While there are some serious home grown challenges such as the housing shortage which need to be addressed urgently, the UK still offers one of the most transparent and sophisticated property markets in the world.

www.carterjonas.com

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Cotswold Life visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Cotswold Life staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Cotswold Life account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

More from Cotswold Life

Yesterday, 13:00

Helping clients through divorce, separation and disputes over children, we talk to 8 divorce lawyers in the Cotswolds

Read more
Yesterday, 11:12

We’ve some extraordinary, and inspiring, women in business in the Cotswolds. We talk to 7 female trailblazers in local industry who offer the business advice they’ve lived by

Read more
Wed, 16:26

Swan Lake. We know the music, we know the iconic imagery of the beautiful ballerina dressed as a swan, but I’m guessing that without reading the libretto in the program, most people don’t know the story. Which is why the audience relies on the dancers to tell us.

Read more
Wed, 11:00

Tom and Louise are being joined by other new academic appointments that have been made as part of the RAU’s £2.5 million initiative to help meet the future needs of the land management and agri-food sectors

Read more
Wed, 10:46

“To win this prestigious award is a real compliment to the wider team in Renishaw’s manufacturing services operation, particularly when we consider the achievements of the other excellent shortlisted companies.”

Read more
Tue, 17:16

Stepping up to receive the world’s first MBA Leading Business degrees at the ceremony were Sarah Bryars, Chief Executive of Target; Luke Freeman, Joint Chief Executive of MF Freeman; and Linsey Temple, Chief Executive of Gloucestershire Engineering Training

Read more
Tue, 17:04

“I am thrilled to see InfoSec People win this fantastic award which is a testament to the brilliant team we have built in the past few years.”

Read more
Tue, 16:36

After a stress-free shopping experience browsing designer brands this Christmas? Look no further than the luxury offerings of Mailbox in Birmingham

Read more
Tue, 10:24

This year sees the 40th anniversary of the publication of Raymond Briggs’ original picture book The Snowman. With three performances of the animated film – with live orchestra – coming to Gloucester Cathedral next month, we thought we’d catch up with Rachel Whibley, managing director of Carrot Productions (and occasional snowman), to find out more...

Read more
Mon, 14:10

It’s the season of terrible puns, magic lamps, and generous genies: Aladdin, the all-new panto at the Everyman, has been written by none other than legendary Blue Peter presenter Peter Duncan, and stars everyone’s favourite clown, Tweedy. The Barnard family from Nailsworth - mum, dad, Harriet (12) and Lewis (6) - made a Wishee (Washee) for tickets; grabbed their car (Window Twan) keys; and dashed off to see A Ladd In Cheltenham

Read more
Mon, 13:45

Crispy, frosty days and perhaps even a dusting of snow, winter is a magical time in the Cotswolds. If you’re thinking of tying the knot during this beautiful season in the region, here are six winter wedding ideas to help you start planning your special day

Read more

Christmas in the Wilson household is a heartwarming, traditional family affair

Read more
Mon, 13:15

Tracy Spiers takes an impressive, if hypothetical, budget on a shopping spree in Cheltenham’s independent stores

Read more
Mon, 13:09

Veganism is the latest food trend to hit the Cotswolds but it’s something we can all enjoy a bite of

Read more

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Topics of Interest

Food and Drink Directory A+ Education

Subscribe or buy a mag today

subscription ad

Local Business Directory

Property Search