Brexit, stamp duty regulations combine to take out property stocks

Market down: A pedestrian walks past an advertisement for office spaces in London. Investors are pulling money from UK property funds as analysts warn that London office values could fall by as much as 20 within three years of the country leaving the EU. — Bloomberg

Brexit, stamp duty regulations combine to take out property stocks

A combination of the new stamp duty regulations introduced on April 1, along with the aftermath of Brexit, have caused United Kingdom’s (UK) biggest property stocks to fall by a double digit quantum on a year to date basis.