Brexit and the impact on prime London real estate investments: Knight Frank's Liam Bailey

Brexit and the impact on prime London real estate investments: Knight Frank's Liam Bailey
Brexit and the impact on prime London real estate investments: Knight Frank's Liam Bailey

GUEST OBSERVER

There is no doubt that the vote in favour of Brexit will generate a period of renewed uncertainty in the prime London residential market.

Some demand, especially from investors, will be delayed and in some cases redirected to other markets – although the significance of these trends should not be overstated. 

Demand for prime London property rests on a wide range of drivers – most of which are unaffected by the referendum decision: the scale of London’s business cluster, depth of skills, education, lifestyle and language.

It is not easy to identify an obvious alternative destination for investors despite short-term nervousness.

While we are entering a period of renewed uncertainty in the UK and London market, ongoing issues around EU and especially Eurozone stability, which will be highlighted in the run up to French and German elections, are likely to counter this risk and shore-up London’s safe haven appeal.

 

Liam Bailey is partner, Global Head of Research for Knight Frank and can be contacted here.

Tags: 
Property market Brexit

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