After last month’s shock result at the EU referendum, many industries have predicted worrying times ahead. However, this isn’t the same across the board.
In true Great British style, some industry leaders are rolling their sleeves up and making best of the situation, coming out fighting with a positive take on the Brexit and the effect it will have.
While shares have plummeted drastically for many organisations since the vote to leave the EU, some housebuilders are saying that, despite this, sites remain busy, interest from potential buyers is high and reservations are still being made.
The thought behind it is that, because there is still an underlying demand for new homes following a long period of short supply, it means the market remains unchanged. In London in particular, the housing crisis continues to be a major issue.
What remains post referendum, however, is the fact that workers are still needed to make up the UK skills shortage which includes certain jobs in construction. It’s these kind of roles that will facilitate the building of the new homes.
Many workers had been coming from EU countries to make up the skills shortage, but now Britain has decided to move away from Europe, new visa restrictions could make this process more difficult.
As it stands, Britain holds its breath until Article 50 of the Lisbon treaty is evoked. This sets out how a member country might leave the EU and states that: “Any member state may decide to withdraw from the union in accordance with its own constitutional requirements.”
By evoking Article 50 the country will notify the European council of its intention, negotiate a deal on its withdrawal and establish legal grounds for a future relationship with the EU which needs a qualified majority of member states and consent of the European parliament.
The UK can begin negotiating new terms for doing business, only after it has properly left the EU, which could be years away. Only then will industries be able to confidently predict how things will go and, as such, a period of uncertainty and nervousness remains.
However, in a recent interview with the Construction Enquirer, Steve Morgan, who is the chairman of housebuilding firm Redrow, gave an upbeat, albeit cautious, take on the Brexit. He said: “Although it is too early to tell whether Brexit will have any effect on future sales, initial feedback is that sites remain busy, reservations continue to be taken. Indeed we witnessed long queues and strong reservations at new sites launched last weekend.”
No-one can tell what the future holds as Britain gets back on its feet and while we wait for agreements to be made on trade and immigration it remains uncertain, but without doubt it’s good to see forward thinking and positivity coming through.
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