At BNP Paribas Real Estate’s recent Capitalise event in London, keynote speaker Andrew Neil gave his views and analysis on the upcoming general election and the policies that will shape the market in years to come, and Ben Page, Chief Executive, Ipsos MORI provided an insightful steer on the political landscape.
Hosted by BNP Paribas Real Estate’s UK CEO John Slade and UK Head of Research Simon Durkin, the event also heard from Laurence Mutkin, Global Head of Rates Strategy, and Edmund Shing, Global Head of Equity & Derivative Strategy at BNP Paribas. They discussed what the general election means for the UK economy and UK real estate and analysed where the risk and opportunities lie in a rapidly changing world.
Key takeaways from the event:
- Global events mean investors are still operating in an uncertain and volatile environment, but risk is falling;
- Investors are increasing allocations to real estate with the UK a top destination, despite Brexit, followed by France and Germany;
- UK demand is supported by low supply, economic fundamentals and currency. Q1 Central London volumes were ahead of the long-term average;
- Investors are responding to the French presidential election with strong demand for European shares as political risk recedes;
- The BoE is unlikely to raise rates in 2017 due to a squeeze on real incomes; and
- Recent years have seen a major political realignment in the UK following Scotland and Brexit referenda, with social class no longer a strong guide to voting intention.
To watch the event highlight video click here
