The one thing we know for sure about Brexit is that nobody really knows what’s going to happen. Nothing like this has ever occurred before, and despite the countless opinions from everyone - from experts to the man in the pub (on both sides of the argument) - the truth is that we don’t know how all this is going to pan out.
So, now that we have established that it’s all a matter of guesswork and there are no concrete answers, we can start to look more sensibly at the information and opinions of people that do have some genuine knowledge of their subject area.
When it comes to the property market of East Anglia and the surrounding area, there are indicators that no matter what happens, this market will continue to be strong.
Recently, a trio of property experts at a Property Trends seminar in Cambridge gave their insights into what the future might hold. They predicted that the Golden Triangle of Cambridge-London-Oxford (as distinct from the Golden Triangle area of Norwich) was perfectly placed to weather any storm and looks set to continue to grow.
Steve Mallen, an economist and market analyst, opened the event with his overview of the area. His key areas of focus included how the expected economic downturn after Brexit had not been as bad as predicted. He also pointed out that after a brief pause in the property market, the South East especially was continuing to rise. Investments in property were likely to grow given the increased volatility of stock markets and other more conventional investment opportunities.
Mallen also pointed out that six out of the top ten most productive cities in the UK in 2017 fall within the Golden Triangle area. These include Cambridge, Oxford, Milton Keynes, Ipswich, Norwich and London itself. He also stated that the area is very well placed to take advantage of the rising digital economy.
Fellow speaker Adrian Cannard, Director of Strategy at the Greater Cambridge Greater Peterborough Local Enterprise Partnership (GCGP), was next to speak. He pointed out that growth in various employment sectors was good and that the area remains a magnet for job opportunities which should keep the market buoyant. Multiple housing projects and future investment should also protect the area from any negative effects of Brexit.
If you would like to know more about the Golden Triangle area (both of them, in fact) or talk through how Brexit might affect the area’s housing market, then get in touch. As local property experts, we are better placed than most to assess how the changes could affect the market.
To find out more about the local and national property market, or if you would like to chat about anything to do with property investment, give us a ring on Norwich 01603 567804 or send us a message.
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