From Daily Telegraph Money/Property:
“What does it mean for the supply crisis?
While we don’t know whether immigration will be curbed, if there are fewer people allowed to work in the UK’s construction industry, it will exacerbate the already acute skills shortage. About 12 per cent of construction workers across the country are from abroad, and in London that rises to 23 per cent.
Construction costs could jump 12 per cent as a result of the vote to leave, according to Ted Macdougal, development director for Forrest, a housebuilder.
Our housing supply-demand imbalance will not be solved any time soon: the Government’s pledge to build 200,000 homes per year is still way off target. Investment in house building is on hold and until there are enough homes built, the lack of supply could cushion house prices, regardless of Brexit.”
East Devon Watch 