Remain vote to cause 'surge in property investment'

Year-on-year, volumes are down by nearly a third in Q1 2016 as investor confidence wanes, largely attributed to uncertainty caused by the impending Brexit vote.

According to David Wise, investment director within Kames’ property team, the impact has been felt most keenly by the larger end of the market, with £20m-plus properties which tend to be in London and the South East the worst affected as they would potentially see the greater impact of an exit from the EU.

But Wise said there could be an opportunity for investors after the Brexit referendum on 23 June is concluded.

Wise said: “Everyone is concerned about the Brexit vote but no one is asking what happens if we vote to stay in the UK. Thus far the uncertainty over Brexit has caused the market to slow down in terms of transactions, with a wait and see attitude among investors, but we could see a strong second half for property after the June vote for this reason, if the UK stays in the EU.”