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In or Out?

Like many people, I went to bed on the 23rd having fulfilled my civic duty, put a cross in the box and confidently awaited business as usual.

Like many people, I went to bed on the 23rd having fulfilled my civic duty,  put a cross in the box and confidently awaited business as usual.

A slight miscalculation maybe and I now need to think about the prospects for residential market in Central London once the dust has settled. The debate has been highly politicised with fear of the outcome being used by both sides. This has not been entirely helpful to many voters, myself included, when trying to make a rational decision.

In time, Equities, Bonds and the currency will find their new levels as the City does what it does best and the new normal will establish itself.

Until that happens uncertainty is the biggest fear. The Sun will still (occasionally) shine here and the Earth will turn. Our laws will be tweaked or re-drafted to  mirror those in Europe to allow us to negotiate trade agreements and free movement.

Some things will be different but London’s pre-eminence as an ‘A’ list Global city will remain. There are many good reasons why London has massive influxes of skilled workers and investment, and being in the EU is not the biggest by any means.

European politicians and bureaucrats may grandstand and howl for sanctions and tariffs but I suspect that underneath they are more interested in getting on with us than they want to let on to their own tabloids.

Over the last year there has been a slow-down in activity in Central London. The increased stamp duties, CGT and the Brexit run-up have been mainly responsible.

London is a huge and successful City and as one door shuts another opens. I expect activity to pick up in the not too distant future as new buyers and sellers emerge into the new, but probably not that different, market.

I have had a weekend to reflect and try and take in all that the press are saying. I suspect that a few fault lines are being exposed across Europe but my own view is that if you voted ‘IN’ then it is not going to be as bad as you fear, and if you voted ‘OUT’ then it is not going to be as good as you hope.

In any respect, we are sitting at the coal face here and are extremely well placed to see which way the wind is blowing, so if you want to know how it affects you please call us on 0207 467 5770. 

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