Implications all the time: What Brexit means for London
The United Kingdom’s 23 June referendum on membership of the European Union is the last in a series of events over the past 12 months that has heightened uncertainty in the London property market, which has contributed to the reduced levels of property transactions across all sectors of the real estate market. These events kicked off with anticipation of the general election in May 2015, followed by changes to the stamp duty transaction tax, the London mayoral election, additional property levies and now we have reached the Brexit vote.
The overwhelming result has been that many buyers and sellers have taken a step back from the market in this time period.
With the UK referendum fast approaching, it’s time for a detailed analysis of the potential impact that a Brexit vote would have on the London property market.
We have already seen that the uncertainty regarding the result of the referendum has caused the London property market to slow down in recent month