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IF the British government follows the vote of the people and removes itself from the European Union, the Australian property market could benefit.
While a formal exit could take up to two years, REA Group chief economist Nerida Conisbee said the uncertainty which emerged could impact on the commercial property market in Australia.
Ms Conisbee said Australia tended to attract a lot of global capital for commercial property and, in many cases, would usually be competing with locations within Europe for this capital.
“With the level of uncertainty now in Europe and Britain, Australia will now look even more attractive for commercial property seekers,’’ she said.
WHAT BREXIT MEANS FOR AUSTRALIANS
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