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With Brexit just around the corner, how will it affect the world of property? Regardless of your personal political reaction to the results of the EU referendum, there is no doubt that Brexit has been a significant economic shock. For people building, extending or renovating their own homes the temptation is to reassess current plans in light of the uncertainty.
According to the Department for Business Skills and Innovation, the UK imported 64% of its materials from the EU and exported 63%. If the UK faces limitations on imports and exports post-Brexit, there is speculation that the cost of these materials will soar and there will be a shortage. As of yet, it’s unclear whether Britain will negotiate trade with countries outside the EU.
The construction industry relies heavily on foreign workers for skilled and non-skilled job roles, and always has done. Without this the skills shortage within the construction industry could worsen.
A major perception is that the UK is subject to extensive red tape from the EU, making it difficult for businesses, especially small ones, to keep their operations legal. A prime example of this is that by 2020, nearly all new homes will need to be zero carbon.
It is important to note that a vote to leave the EU will not break all ties between the UK and the EU. A negotiated free-trading arrangement may occur in an exit scenario which could allow the UK access to the free movement of people and goods.
With this in mind, it is almost certain that one condition on the UK of such an arrangement would be compliance with EU trading standards. Not only would the UK have to comply with the same standards that it is subject to today, but it would also have minimum say in setting the standards in the first place, meaning the same red tape would apply but with less of the benefits.
My advice? Let’s face it, no-one’s moving to a new house at the moment and everyone is renovating. Local builders have their pick of the jobs so if you’re planning a fabulous renovation, think about the following.
At Entire Houze are dedicated to offering the highest standard of building work and impeccable service with a complete hands-on approach to every project no matter the size. With more than 20 years combined experience we are North London’s premier building company, and whether you are looking for loft conversions, new kitchens, bathroom renovations or house extensions, look no further.
We believe that you will not find a building contractor in North London that produces the quality workmanship that The Entire Houze provides.
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