Property markets already affected by uncertainty over UK referendum on EU
New analysis suggests that uncertainty is already creeping into the property markets as the UK referendum on the future of the country within the EU draws near. The Royal Institution of Chartered Surveyors (RICS) has examined the current impacts and also assessed what the outcome of a leave and stay vote may be. As is the case with any national poll, its recent residential surveys indicate that residential investment transactions have slowed. Should the UK vote to leave the EU then demand for certain properties is likely to lessen. A significant number of higher end properties, particularly those in London and the south east, are purchased by EU and non-EU individuals. A Brexit would likely reduce demand in this sector. Student accommodation could be similarly affected if changes to enrolment rules deter international students.
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