Geoff White, RICS Policy Manager, North & Midlands said: “Uncertainty over the renegotiation and the North East’s future relationship with the EU must be minimised by laying out a clear timeline and set of ambitions. The Chancellor’s proposed ‘Brexit Budget’ must be careful to reassure the region’s property markets.
“There are questions around the impact on access to a skilled workforce to meet the North East’s construction and infrastructure needs. We need reassurance that workforce migration will be addressed as a priority and it must not be allowed to impact on the attractiveness of the North East for investment, or as a place where major corporate and industrial occupiers want to do business.
“Given their role in the economy, property and construction require stability, clarity and certainty. Regardless of our relationship with the EU we need to ensure that investment into the North East’sproperty markets and infrastructure continues. While Whitehall focuses energies into the exit negotiation, the North East must meet the housing supply and infrastructure challenges it continues to face. Projects or property transactions which were delayed, shelved or postponed due to the uncertainty surrounding the referendum must be given the confidence and security to begin to move again.”