Time to refocus on fundamentals

Uncertainty and financial market volatility stemming from the Brexit negotiations still pose a risk to property pricing. But, in reality, the Brexit vote has had little, if any, lasting impact on the economy or property markets to date. And we believe that the outlook for the economy and labour markets is solid. This means that there are good reasons to refocus on macroeconomic fundamentals. In fact, with the economy continuing to confound pre-vote expectations, we expect the key driver of capital value adjustments to be the eventual tightening of monetary policy.