Although we now know the result is a decision to leave the EU, the uncertainty continues for the UK real estate market.

We are likely to see a short period of stunned disbelief followed by market adjustment and falling prices as potential investors slow down their investment in the UK until plans for an orderly exit are settled; hopefully then followed by an increase in inward investment taking advantage of dropping prices and a weaker pound.

Valuation in a new “Leave” world will present its challenges as valuers consider the effect of the continuing uncertainty, and some real estate sectors in particular, such as student housing or healthcare, will face a potentially adverse impact from increasing restrictions on the free movement of people.