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Prime Minister triggers Brexit

POSTED ON 12 APRIL 2017

On Wednesday March 29th, the letter that Prime Minister Theresa May signed to trigger Britain’s exit from the European Union, was hand delivered to EU chief Donald Tusk.

The delivery of the letter invoked Article 50 and marked the official start of the leaving process, with May being quoted in the Daily Mirror as saying: “Now the decision has been made to leave the EU, it is time to come together.” The Brexit vote itself back in June 2016 unleashed a considerable amount of uncertainty in all sectors, including the property market amid claims that UK house prices would collapse if Britain voted to leave the European Union: however, the housing market has, in fact, remained remarkably resilient.

According to Richard Adamson, a partner at Allsop, one of the UK’s largest property auction firms, investor demand for property remains strong while home sales remain stable and property prices are holding firm. “We have also noticed increased interest from investors in the student market. Student accommodation has outperformed other asset classes in recent years, providing strong rental growth.”

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