With Brexit fast approaching, the uncertainty of the London housing market continues to be a hot topic of conversation around the city. What will it mean when Britain finally leaves the EU in March of 2019?
According to www.gov.uk Land registry figures there has been a dip in London property sales in the two years since the EU referendum, mostly due to people being slightly wary of selling their home when nobody quite knows how the next few years will pan out.
You can be forgiven for being swept away by all the media doom and gloom, but don't panic just yet, London still has so much to offer. Let's not forget that on the current index of Global Financial Centres, London is ranked second behind only New York! This ranking is based on "business environment", "financial sector development", "infrastructure factors", "human capital" and "reputation and general factors" with global mega cities such as Tokyo only coming in at 6th place. Paris and Dublin, the two cities that have positioned themselves to host financial services firms looking to relocate from post-Brexit Britain, are positioned down in 26th and 30th, respectively.
It shows that even after a decade of recession and with Brexit just around the corner, business is still thriving in this city and we are still an attractive proposition for firms all over the world, that certainly isn’t going to change overnight.
Let’s not forget that London is always constantly talked about as one of the most liveable and attractive cities in the world and even though we moan about it, the transport system is pretty much second to none. Brexit will happen, recessions will end, and London survives, it's always been like that here.
So let’s get the kettle on and have a nice cup of tea, no need to pack your bags and leave just yet.