Under supply of housing, a challenge in the UK despite Brexit The government should help put the 200,000 properties lying uninhabited on the market to solve the crisis
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t’s fair to say that the UK has endured a bumpy ride in the two and a half years since the EU referendum. The immediate effects of the vote on June 23, 2016 were obvious; the sterling took a dive overnight, while people waited with bated breath to see how the aftermath would pan out. But since that fateful day, the doom and gloom predictions have largely proven unfounded — or else largely exaggerated — and the UK continues to be an attractive destination
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May 2019
Paresh Raja for students, businesses, professionals and investors. With Brexit dominating the headlines for the past 30 months, however, many other issues were moved down the long list of national priorities; including housing. And while many indicators suggest that the UK property market is demonstrating great resilience in the face of the current political and economic uncertainty (recent data reveals that the number of property sale completions
grew 112 percent year-onyear in January 2019), we can’t let Brexit overshadow the challenges currently facing the sector. After all, the government must continue to push for much-needed reforms to ensure more people can access and benefit from the property market.
What are the current challenges facing the UK property market? Without a doubt, one of the