Will Brexit affect property development in the UK?

One of the big questions about Brexit is how much it will impact the UK economy, be that positively or negatively. In particular, for property development, we still don’t know, but for the moment the signs are positive. Most developers remain positive and hopeful about their projects being unaffected by the Brexit deal for the following reasons:

• The government’s support to the construction sector through planning reforms and financial support
• Funding availability still remains high
• Interest rates are staying low
• The stamp duty holiday extension
• The government’s new 95% mortgage-guarantee scheme

What are the concerns then? The biggest worries are the labour shortages, completion times and increased material costs. Most feel, and we would agree, that whilst these are problems, they are hurdles more than barriers and won’t stop projects going ahead.

What do you think?

We are confident we’ll continue to see developers have plenty of opportunities in the new landscape unfolding in the UK and we’ll be here to finance those projects, speak to your ASC office for more information.