19 Apr

Property market raises Brexit concerns

Property market raises Brexit concerns

A number of leading property firms have raised concerns about the possibility of the UK leaving the European Union.

Many investors have opted to delay plans to purchase new properties or undertake developments until after the result of the June referendum is known.

The Daily Telegraph reports David Sleath, chief executive of Segro, believes the UK property industry is facing “uncertain times”.

Mr Sleath explained: “The Brexit debate is a very difficult issue and there is a dramatic slowdown in the investment space because people who have got property to sell are sitting on their hands.”

He added many large multi-nationals just as Serco are likely to continue to perform well but “certainly over the next few months we’re going to have a period of great uncertainty that’s going to impact investment sentiment”.

The market also remains volatile ahead of the public vote, with shares across the London-listed property sector having fallen in value over the past few months. Since the start of 2016, the FTSE 350 Real Estate index has lost eight per cent of its value - equal to £4.6 billion.ADNFCR-1222-ID-801816813-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.