2016 has been a year of unpredictability. Much of that is due to June’s EU referendum vote, both before and after the vote.
There is still no set date for when the UK will be leaving the EU, further compounding this unpredictability. While things around the vote have quieted down in recent months, many industries have been left in a state of ambiguity from the outcome of the vote. At Landform Surveys, we have been fortunate and had no noticeable effect at the outcome of the EU referendum. The number of enquiries we have received have been fairly constant pre and post Brexit vote. The number of instructions from clients is not markedly different, and many large schemes quoted for before the vote are now instructed.
We work closely with the construction industry and uncertainty has major effect in this sector, often with a ripple effect onto complimentary industries. According to The Guardian, the nation’s biggest property developers and builders suffered their worst performance in seven years in June 2016. This uncertainty is not surprising, and while it is not an easy time to navigate through, we can act proactively where we can.
The RICS (Royal Institute of Chartered Surveyors) has written a professional response on behalf of surveyors calling on the government to act and give renewed confidence to the construction industry. Many projects that were postponed could be back on the table if given the right reassurance and commitment from the government. As companies are likely to continue to re-evaluate their projects, this reassurance is needed more than ever to minimise the drop in growth. Many construction and infrastructure projects are long-term, and if action is taken to correct the current trend, it will have a smaller effect on construction and the complimentary industries.
For more information on the response, click to read the full statement; “RICS responds to the result of the EU referendum”.
Update January 2018, the RICS response above appears to be a broken link. RICS looked to have setup a section on their website dedicated to Brexit.