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When Brexit became reality: British pound and property after March 29

March 21, 2017Article by Chelsea Battle

The UK’s Prime Minister, Theresa May, finally confirmed March 29 as the day when the country will officially trigger Article 50 and therefore kick off the process to leave the EU for good.

When it comes to the country’s property market, the effect of triggering Article 50 will probably not be very noticeable. Or if so, it will mainly impact foreign investment and currency exchange rates.

The Brexit decision happened almost eight months ago and although there have been some ups and downs, especially for certain sectors like the construction industry, the biggest game changers are still coming from within the country. Such as the changes made to stamp duty or the recently released housing white paper.

So if one was to look out for changes that may influence the UK’s housing market, the might be wise to focus on the country’s Government rather than its negotiations with the EU.

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