“Certainty” is the bedrock of a stable property market. In the build-up to and aftermath of Brexit there was a distinct sense that many investors and developers were holding their breath. Deals were pulled last minute and there were whispers of the UK’s major residential developers putting acquisitions on hold indefinitely.
In many ways, we are in no more certain times as the Government are embroiled in litigation over the mechanisms of serving Article 50 and speculation over whether we will have a hard or a soft Brexit remain as speculation only. Our exit from EU will inevitably weak our ties with Europe and so we must look further afield. The Chinese are already big investors in the UK property markets. In this strange new world, it looks as though Chinese money may be one of the only relative certainties we have!
Brexit is no deterrent as China’s already healthy appetite for UK property is only growing. According to Chinese diplomat Sun Dali, Chinese investors’ love affair with the Northern Powerhouse, Manchester in particular, began when President Xi Jinping visited the UK’s second city last year.