Number of properties owned by overseas companies falls by 4,000 since EU Referendum

18 January 2021 | General

The number of properties in England and Wales owned by overseas companies has fallen by 4,000 since the EU Referendum, research by Search Acumen has found.

At the time of the referendum in June 2016 overseas company ownership of properties in England and Wales totalled 99,619. That dropped to 95,624 by November 2020.

Andy Sommerville, director at Search Acumen, said: “This research reveals the scale of the impact that Brexit-induced uncertainty has had on international demand for properties in England and Wales.

“Heightened unease over the nature of the post-Brexit transition relationship may have prompted investors to look beyond England and Wales for returns.

“The coronavirus pandemic and measures to contain its spread has also put downward pressure on international demand. Overseas investors are questioning the benefits of owning residential properties in London if they cannot even stay in them.”

Ownership of properties in prime locations in London and the South East fell the furthest.

However there’s been an uptick in overseas ownership in the North, rising by 11% and 9% in Merseyside and Greater Manchester respectively.

This post has originally been featured in Property Wire.