Overseas companies own 4000 less properties than they did before the EU referendum.

The number of properties in England and Wales which are owned by companies based overseas have dropped significantly since the referendum.

According to Search Acumens research 4000 properties which were previously owned by overseas companies have been let go.

In June 2016, when the referendum took place, overseas companies owned 99,619 properties. By 2020 this number has dropped to 95,624.

Director of Search Acumen, Andy Sommerville, has argued that this decline is due to Brexit focussed uncertainty. Unease over Brexit based transition may have prompted investors to look beyond England and Wales for investments.

The decline can also be attributed to the Coronavirus pandemic. Heightened restrictions have put a downward pressure on international investment as a whole.

Ownership of properties in London and the South East have fallen by the highest amount.

On the other end of the scale, there has been an increase in overseas ownership of properties in the North. Merseyside and Greater Manchester saw an increase in ownership of 11% and 9% respectively.

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