The EU and UK possess uncertainty in their relationship, which could affect improvement in the UK during the latter part of 2020. However, in the earlier months of the year improvement should be recognized, especially in the field of real estate.
Economists have presented their latest growth forecasts. In it, they are stating that “clarity” and political calm is evident. This is as a result of the great success of his election. It is going to help scale up the market. This is just one more boost for Boris Johnson when it comes to Brexit. There is another forecast that holds merit and this is from the CEO and founder of EEH Ventures, Eitan Eldar.
“Brexit is going to raise optimism in the UK markets, We are going to see a lot of new interest from foreign investors and British citizens alike,” but added: “Investors should also be cautious and not rush into short term investments” According to Eitan Eldar, CEO of EEH Ventures.
Brexit Results Requires Patience
Nigel Farage, leader of UKIP and the Brexit party, made an important observation. He indicated that it was the increase of migrant labour to the UK’s coastal towns that unsettled the British people. They became frustrated and disillusioned and finally fed up with this.
The No Deal Brexit started in February, and there is a risk of this creating some uncertainty. The concern lies with no EU trade agreement negotiated. This could put the UK on edge.
“The effect of Brexit on the economy might take 2-3 years to realize fully, so in the beginning, there might be a rough period,” said Eitan Eldar. “But in the field of real estate, the effects will be immediate, because people will start purchasing assets before the prices rise”.
Although it will take some time, the majority of analysts are of the mind that the UK will enjoy a better economy. There is an increase in the instability of the world in general and volatility. In spite of this, the UK has all that is needed to make it a global commonwealth leader while at the same time having a close relationship with the EU built on strength. There may be some negative aspects that are present during the No Deal Brexit transition period, but the consensus is that this is something the UK will deal with effectively.
“The real estate market definitely slowed down due to uncertainty regarding Brexit, but now we expect a full recovery” said Eitan Eldar. Most experts agree that the real estate market will experience an increase in demand in the early stages of the Post-Brexit era.
On 31st January 2020, precisely at 23:00 GMT, the UK became a separate entity from the European Union. This is causing a mix of emotions such as anxiety and excitement for the British population. It will take time to determine what impact this new change is going to have on the Brexit economy.