Counting the Cost of Brexit and Property
Buying a home in the U.K. capital is becoming less affordable. Londoners face the biggest disparity between the pace of growth in property prices and increases in average weekly pay, compared with other major U.K. cities, according to a report by Resolution Foundation published on Thursday. The widening divergence between pay and housing costs, based on the trend over six years to 2015, is likely to erode living standards in London and across the country, the report said. Ballymore Properties Managing Director John Mulryan and Aberdeen Asset Management CIO of Property Russell Chaplin discuss the Brexit impact on properties with Francine Lacqua on "Bloomberg Surveillance."
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U.K.'s May Calls for Two-Year Brexit Transition Period
17:31 - U.K. Prime Minister Theresa May speaks in Florence, Italy on the need for a period of implementation after the nation leaves the European Union. (Source: Bloomberg)