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Commenting on the UK economy starting to show signs of a post-Brexit wobble PDF Print E-mail
Tuesday, 30 May 2017
Commenting on how the UK economy suffered a worse than expected slowdown at the start of the year, Emmanuel Lumineau, CEO at BrickVest, said: “Since the Brexit vote, the Bank of England has cut interest rates and boosted quantitative easing. The latest GDP figures show that the UK economy has seen worse than expected growth in Q1.The UK’s recent economic strength including post Brexit may be beginning to wobble as consumers begin to feel the impact of higher inflation. For the real estate industry, higher inflation means higher construction costs and should lead to an increase in property prices. However in recent months the demand for real estate has softened and it is unlikely that developers will immediately pass on the higher inflationary costs to the end customer.

“Since Brexit, we’ve seen record numbers of investors joining our investment platform. We expect to see the highest level of volatility from the office sector as many international firms currently headquartered in the UK may put decisions on hold over their long term office space requirements. Indeed our recent research showed that 20% of property-focussed institutional investors believe the office sector will present the biggest European real estate investment opportunity over the next 12 months. If the UK no longer gives businesses access to the European market, they may need to spread their staff across multiple locations to more efficiently access both the UK and European market.”
 

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