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How Will The Referendum Affect UK Property?

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How Will The Referendum Affect UK Property?

The BPF has published a paper which endeavours to balance the pro's and con's of EU membership for the UK property industry.

They say, "As the voice of the real estate industry, we seek to put forward well-reasoned, thoughtful contributions to policy debates. The EU Referendum is no different in that regard. We are not able to say definitively whether remaining in the EU or leaving the EU would be the best choice in the long-term for UK Real Estate, simply because we do not know what circumstances would hold if the UK were to leave the EU. Individual member companies may be better placed to make a choice based on the impacts upon them as an organisation. An additional complexity is represented by the relative diversity of BPF"s membership - the choice for a UK-only developer may be somewhat different to that of an agent."

The paper is available here:  BPF Paper On The EU Referendum

After analysing some of the background, process of leaving, potential impacts and likely scenarios, the paper concludes:

"The outcome of the EU debate has been represented as a binary choice, but ultimately the vote on June 23rd represents only the beginning of a process in the event of a vote to leave, or the continuation of an ongoing process of evolution of the EU in the event of a vote to remain. It is clear that uncertainty is currently impacting markets adversely, but the long term implications of the decision in June are much harder to foresee and the diversity of the real estate industry means that individual BPF members may have very different perspectives."

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About the author

Martin Silman

Martin began his landlord journey 30 years ago, while working in an international role for a global telecommunications company. Since retiring he has extended his portfolio, which he manages with his wife, but has always focussed on the ‘small student HMO’ sector preferring to offer homes in the community for small groups to the more common ‘pack them in and take the money’ mentality. He has chaired the PDPLA for the past 12 years and has overseen the Associations transition from small local self-help group to a much larger and more professional institution which is recognised and listened to nationally. Alongside his PDPLA role, he also has leadership roles in a number of other local organisations – bringing his unique perspective, driving for change and increased use of technology while respecting the history that brought us here.

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