EU referendum: The UK’s property sector is emphatically against the idea of a Brexit
The UK's property sector is not enthusiastic about the idea, a new poll has shown – with 65 per cent saying leaving the EU would have a negative impact on investment in the sector. No kidding.
The poll, by property consultancy Carter Jonas, also found 10 per cent of those surveyed said they would consider relocating their business to another EU country if the UK voted to leave..
Some 22 per cent said they didn't expect a Brexit to have any impact on investment, while 13 per cent said it will have a positive impact.
But the poll also suggested Brexit isn't the only thing worrying the property sector: apparently, the housing shortage, rising construction costs and the prospect of higher interest rates all keep them awake at night, as well as a skills shortage and planning reforms.
"“Regardless of the ‘in or out’ debate, people in the property industry want certainty," said Mark Granger, chief executive of Carter Jonas.
"As we saw before the referendum on Scottish independence, many occupiers and investors delayed their decision-making. We expect a similar ‘wait-and-see’ approach as the EU referendum draws near, which could impact on sentiment and activity. While UK plc will survive whatever the outcome, a Brexit would lead to more uncertainty while the new arrangements were negotiated.”