Property has seen an average £20.6m daily drop in real estate deals across England and Wales since 2017 as Brexit continues to spook investors.
According to research by property data insight company Search Acumen, investment into commercial real estate fell by 8% between 2017 and 2019. Investors spent an average of £270m a day in 2017 between January and August, which fell to £249m in 2019 during the same comparable time period.
Property cashed in £3.1bn on its busiest day of investment in 2019, marking a 37% drop compared to 2017’s biggest day, in which £4.9bn of deals were struck.
There have been five days in 2019 where more than £1bn was spent on commercial real estate, compared to 11 in 2018 and 10 in 2017.
The volume of deals struck has also suffered as well: an average of 399 commercial real estate deals were agreed in 2019 between January and August, down by 5% from 420 in 2018 and down by 7% from 429 in 2017.
Search Acumen commercial real estate business development manager Caroline Robinson said: “Politicians have frequently told us how bad things could be without a Brexit decision, but the commercial real estate sector is already feeling the pain of indecision every day.
“With indecision likely to remain into 2020, now is the opportunity for firms in the commercial real estate sector to assess how they can be best placed to take advantage of an eventual upswing in the amount and volume of transactions.”
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