Wednesday, 27 July 2016

Brexit Puts Almost 50,000 Property And Construction Firms At Risk

Almost 50,000 property and construction firms with “shaky” foundations could bear the brunt of Brexit, according to new research, which revealed that 49,186 construction and real estate businesses were classified as experiencing “significant” financial distress ahead of the EU referendum in the second quarter of 2016. Experts are now predicting London house prices could plummet by up to 20% following the decision to leave the EU. Despite the high proportion of construction firms at risk, the research found that financial distress decreased across every sector in the UK prior to the referendum. Read more on the Development Finance Today website.

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