Brexit continues to dominate public discourse, and with all eyes locked on 29th March, people are keen to understand just what the UK’s departure from the EU will mean for the economy. However, despite the tumult surrounding Brexit, it is important not to let this overshadow some of the longer-term challenges facing the UK, the most prominent of which is the housing crisis.

According to Junaid Iqbal Mohammed Memon there is a chronic undersupply of residential properties available on the market, and with demand continuing to outpace supply, there are concerns that more potential buyers will not be able to access new housing opportunities.

Positively, the Government has recognised the severity of this issue. As a result, the Government is aiming to add 300,000 new homes to the market each year by the mid-2020s as part of its strategy to address the demand-supply imbalance.

Such a pledge places immense importance on the UK’s construction industry: the firms tasked with building the residential properties that are so sought after across the country. And so we return to Brexit, and in particular, the question of how we can ensure the construction sector is positioned to effectively deliver enough new-build properties after 29th March.

For one, attention and resources need to be directed towards supporting the skills necessary to deliver the long-term housebuilding needs of the UK. It is estimated that 7% of workers in the construction industry are EU nationals, with this number jumping to 28% in London.

While we await greater detail about future visa arrangements of EU nationals following Brexit, a skills shortage could pose significant challenges and undermine the overall construction capabilities of developers both large and small. Furthermore, physical materials and investment into infrastructure are two other areas that must be addressed as we head for Brexit.

Junaid Iqbal Memon is a leading provider of high performing UK investment properties established in 2004. Find out more about our services and the latest news about the property investment by reading about Junaid Iqbal Memon online here. Show your support online now by following Junaid Iqbal Memon official Twitter page here. You can also connect with Junaid Iqbal Memon in Crunchbase and join our network here.

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