{"id":24466,"date":"2019-01-08T11:07:20","date_gmt":"2019-01-08T15:07:20","guid":{"rendered":"https:\/\/www.mrisoftware.com\/ae\/blog\/charting-uk-property-trends-brexit\/"},"modified":"2020-04-09T03:18:26","modified_gmt":"2020-04-09T07:18:26","slug":"charting-uk-property-trends-brexit","status":"publish","type":"post","link":"https:\/\/www.mrisoftware.com\/ae\/blog\/charting-uk-property-trends-brexit\/","title":{"rendered":"Charting UK Property Trends: Brexit"},"content":{"rendered":"

In December 2018, MRI Software compiled and published results from its industry-wide survey in a report titled Charting UK Property Trends<\/a>. This blog looks at its findings related to Brexit.<\/strong><\/p>\n

Whatever the nature of the deal \u2013 or \u2018no deal\u2019, as the case could potentially still be \u2013 Brexit will undoubtedly dominate news headlines in the UK throughout 2019. It\u2019s done so, almost continuously, since the referendum nearly three years ago \u2013 not a day going by that we don\u2019t see a story on how the UK\u2019s departure from the European Union is going to impact on a given industry, market or business type. Of course, the real estate sector will feel the ramifications of events both before and after the exit date of 29 March \u2013 but to what extent are property professionals concerned? The answer, which may surprise some, is a tentative \u2018not very\u2019.<\/p>\n

Statistically speaking, only 24% (less than one in four) of respondents to the recent industry survey conducted and published by MRI said they believe that Brexit will seriously hamper access to funding for developments. Granted, it\u2019s only one aspect of a wider picture \u2013 but it does start to paint an optimistic view. As does the fact that 62% believe Brexit will have a \u2018minimal\u2019 impact on the UK rental market \u2013 this despite more than half expecting house purchase prices to fall.<\/p>\n

Discussing the report on the Building Success podcast<\/a>, James Lavery \u2013 EMEA Marketing Director at MRI \u2013 puts the general positivity down to experience. He explains: \u201cThe property industry is subject to ups and downs \u2013 not just those we\u2019ve witnessed in the past 10 years since the financial crash, but through many previous cycles. It\u2019s not that the sector isn\u2019t concerned by Brexit, but they\u2019re saying \u2018we know how to handle this\u2019 \u2013 and looking at the opportunities it could provide, not just the associated threats.\u201d<\/p>\n

Yes, there is undoubtedly an underlying uncertainty that surrounds the process \u2013 and that creates concern \u2013 but, on the whole the property market is displaying confidence that it can ride out the bumps in the road Brexit will inevitably throw its way. Only in time will the full impact be seen, but for now the key players appear unfazed.<\/p>\n

To find out more you can download the complete report here<\/a>, and listen to James\u2019s podcast in full below.<\/p>\n