A quarter of UK-based investors are claiming that Brexit is the reason that four out of five investors are still buying in the UK, according to a latest poll.
A poll of 450 high net worth investors based in Hong Kong, Dubai, South Africa and the UK showed that 85% were still keen to look for new investment opportunities in the UK, despite the effects of Brexit being unknown.
The research, carried out by Censuswide, also found that 55% of investors think that the UK property market is ‘good to very strong’, increasing to 64% when looking at prospects in three to five years’ time.
These figures come after the latest survey from the Royal Institution of Chartered Surveyors (RICS) found that property sales and enquiry levels fell last month, with ‘little prospect’ of a change in the near future.
And in September last year, Bank of England governor Mark Carney told mortgage lenders to stress borrowers' affordability based on house prices plummeting by 30%.
Despite this, Knight Frank also published research that found that the UK is now once again Europe’s leading commercial property investment market.
Its survey of 155 leading property investors representing organisations with an excess of £500billion of real estate assets under management found that 21 per cent of investors identified the UK as their preferred investment market in 2018, up from 12 per cent in 2017.
Chris Bell, managing director, Europe, at Knight Frank, said: “There is a huge weight of capital to be allocated to European real estate, including an unprecedented level of private equity dry powder, and a growing pool of private wealth. The question is where it will be deployed.
“The emergence of the UK as the European market of choice in 2019 is interesting, suggesting many think that pricing looks attractive.”