The start of Brexit polling is just hours away.Stock markets are jittering. Politicians are in overdrive. And the media is showing signs of overwhelm as they report the latest key figures to declare a last minute change of heart. In truth, even experienced London Estate Agents are feeling a twitch of nerves.Just how will the central London property market bear up in the aftermath of the Brexit vote? The outcome, of course, is impossible to know. But we're reassured by research quoted recently in City A.M., showing that European buyers of central London property account for just 12 per cent of the Prime Central London (PCL) market.And let's not forget that dollar investors aren't complaining about the fluctuating value of the pound in the face of Brexit uncertainty. With estimated discounts of up to a fifth, the Brexit jitters are certainly proving lucrative for some.So it seems reasonable to think that even a yes vote for Brexit wouldn't have catastrophic effects on the central London property market.* London is, after all, seen as a desirable destination by investors the world over, not just by our European neighbours.So, we're cautiously optimistic that luxury properties in Westminster, London Bridge et al, will be well placed to weather the Brexit storm. Whichever way it ends.But for now, let's batten down the Brexit hatches. And we'll see you back here when the waters are (hopefully) calmer.*Caveat: This was written without the benefit of a crystal ball
Europe has only played a limited role in attracting international capital to the London property market, representing only 12 per cent of buyers in PCL, according to our analysis. An unlikely total withdrawal will have little net effect on property prices.
http://www.cityam.com/240999/will-brexit-knock-house-prices-not-in-prime-central-london
