The upcoming EU referendum has created a state of “flux” in the UK’s property market according to the head of a leading local property development firm.
Elliot Lawless, director of Elliot Group, says he has seen a “slowing up of investment sentiment” for property assets ahead of the vote later this month.
He tells Your Move: “I’m firmly in the remain camp. The referendum has created flux in the market and we’ve seen a slight slowing up of investment sentiment for UK property assets whilst some investors sit out the referendum period.
“If the vote ends up being for Brexit then that period of uncertainty will continue whilst investors wait to see which way the wind blows during exit negotiations.
“Conversely, if the outcome is remain then I’m expecting the tap to be turned right back on and we’ll see a mini boom as projects get kickstarted. That has to be good for the region.”
Elliot Group is behind a range of prominent developments underway in Liverpool included the redevelopment of Wolstenholme Square and projects in the Baltic Triangle.
The EU referendum to determine whether Britain should leave or remain in the European Union will take place on 23 June.