One year on from the ‘Brexit vote’ on June 23 2016 in favour of the leaving the EU, the impact upon commercial property is yet to be felt, according to Tim Davies, Bristol-based head of the South West office of Colliers International.
He said: “Lots of water has gone under the bridge since the referendum vote confirming Brexit. I think that the gestation period has now been so long without any tangible progress that everyone is just taking it for granted.
“The truth is that we are no further forward in understanding what type of Brexit it will be and the economy has come to terms with this.
“In terms of the commercial property market, the initial uncertainty did cause a bump in the road but this was short lived and it is now very much business as usual.
“It will be interesting to see what happens following the General Election result, as a ‘soft’ Brexit now seems more likely in the absence of a clear mandate for Theresa May.
“It is only when Brexit – even a ‘soft’ version – gets underway that any real economic fallout will be felt. Until such time the property market will remain robust with rental and capital values continuing to climb in key strategic locations in the South West.”
