General election a genuine positive for the UK property industry says JLL UK
Comments in a recent news release from JLL UK on 19th April 2017 on the announcement of the UK general election to be held on 8th June 2017.
Jon Neale, Head of UK Research, JLL UK said: “The announcement of a snap general election on 8 June is a genuine positive for the UK property industry.
“It will mean that a general election is no longer likely to coincide with the end of the two-year negotiating period following the triggering of Article 50. The Prime Minister will now be under less pressure to ‘deliver Brexit’ by 2020 – making a transitional phase more likely.
“The threat of UK businesses having to face a ‘cliff edge’ – a fall back to WTO trading rules and full customs controls with the European Union – has retreated. Companies will still have to make contingency plans, but there may be less pressure on companies to plan for a sharp exit without the ‘deep relationship’ that the current government wants with the EU being agreed. This should help improve confidence in the market. The residential market should benefit too, for similar reasons. However, much still depends on the course of the negotiations and the result of the general election.”
Source of information JLL UK
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