We have all read a lot in the press and are already feeling the pinch of the falling pound. Whilst this is wonderful news for us in the export sector, inflation will be a key factor of consideration.
Whilst British produce is amongst the finest in the world, we rely significantly on imported food. Though consumers are expected to place greater emphasis on British products, the average supermarket basket is expected to become pricier.
Of course, on the other side, the depressed Sterling should in theory make holidaying in the UK more attractive. However, an overall slowdown in major global economies (which are the key source of Tourists in Britain), may be the reason why visitors are being thrifty and not digging deep into their pockets.
One of the lesser discussed impacts of Brexit is the fact that the falling Sterling is probably going to make the London Housing crisis worse.
As London remains a top global destination, investors abroad are now keener than ever to get their hands on our real estate. Perhaps, this is the best test for Sadiq Khan’s Homes for London campaign – and whether the thousands of homes he has promised, are delivered to Londoners!