The impact of a Brexit on the property market would depend upon its impact on the economy generally in terms of growth and trade. The 2015 Smith & Williamson property survey has revealed the property and construction sector in the UK wants to remain part of the EU, with only 15% of respondents suggesting that a British exit from the EU would have a positive impact on the industry.
In addition, a survey earlier this year by accountants KPMG found that 66 per cent of real estate experts believed that ‘Britain leaving the EU would have a negative impact on inbound cross-border investment’. (http://www.winkworth.co.uk/)
All of the most recent research has demonstrated that business confidence is growing, indicating a particular belief in commercial property over the next 12 months. Despite experts suggesting that the market may cool down in 3 – 4 years, they are certain that there will be no crash or catastrophic price drops, which is emphasised by investor confidence improving, particularly in Greater London and regional cities.
Most industry experts believe that if a Brexit was to happen, it would be the central London property market that would be hit hardest. These concerns are being mirrored by the fact that investors are now looking further afield. The savvy individual is placing their money in up and coming areas, such as Croydon and Greenwich, were prices have increased by about 40% over the last 15 years (Zoopla).