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Insight & Opinion

Property market looks to future as Boris Johnson becomes PM

Author: Gemma

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In a result that had been widely predicted, Boris Johnson has won the race to be the next leader of the Conservative party and UK prime minister.

The former London mayor beat his rival Jeremy Hunt fairly comfortably, winning 92,153 of the votes cast by Tory party members, compared to Mr Hunt’s 46,656.

He takes office at a testing time for the country, with undeniably the biggest challenge being Brexit. Companies and industries across the country will be looking for reassurance that Britain’s exit from the European Union will be handled in a way that doesn’t damage business prospects or the economy.

Speaking at the Queen Elizabeth II centre in London after the official announcement of his victory, Mr Johnson pledged to “get Brexit done on 31 October and take advantage of all the opportunities it will bring”.

Carolyn Fairbairn, director-general of the Confederation of British Industry, said UK business needs three things in the new prime minister’s first 100 days: “A Brexit deal that unlocks confidence; clear signals the UK is open for business; and a truly pro-enterprise vision for our country.”

As far as UK real estate is concerned, the market has continued to perform well despite the current political uncertainty, with investors showing ongoing demand for property and developers delivering much-needed new-build housing.

Jerald Solis, business development and acquisitions director at Experience Invest, pointed out that these positive trends have emerged with “minimal leadership and guidance from the government since the EU referendum in 2016”.

He added: “I for one hope that Boris Johnson’s appointment will lead to action, so that Brexit in whatever shape or form can progress. Only then will the government be in a position to think beyond the 31 October deadline, and ensure developers in the private sector are offered the support they need.”

If you are interested to find out more about current and future property investment opportunities in the UK, contact Experience Invest.

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