Britain’s exit from the European Union popularly known as Brexit is the new hot. The UK chose to bid farewell to the politico-economic group of 28 member states. Though the formalities for the exit are to take two years yet the effects of the mere news are quite visible and are very likely to be felt in Australian real estate market too. So, to clear the air, here we discuss the actual effects of the event over Australian Economy.
First of all, the news is not bad. In fact, the event is believed to make the Australian economy even more stable and safe. Australia has always been a tough competitor to Europe when an economy is concerned. This implies a negative effect of events like Brexit over European market is likely to prove positive for the Australian market
If specifically property market is discussed, the scene is optimistic. For example, the Asian investors now see London, their preferred market for property buying as uncertain and unstable. Hence, they are most likely to switch to Australia thanks to the safety and stability of its market. In other words, the buyers from Europe will now be more willing to look forward to Australia for investment.
In long term, the trade relations between Britain and Australia’s may suffer and cause a slight inconvenience. But the risk is least probable to be huge.
So, these are our thoughts over the effects of so Britain’s exit in relation to the Australian economy. For more information about the topic and other issues regarding real estate, keep visiting blogger Marie Bolton’s blog