This update on the state of the economy reflects our own experience at Gardner Leader since the referendum vote in June (which came a week before the start of our new financial year on 1 July). After some initial nervousness among homebuyers in the days that followed, we have not seen any real slowdown in the housing market and our Conveyancing team has had a very healthy flow of new instructions. In Commercial Property, which we also feared might suffer an early impact, we are busier than we have ever been and have had to recruit additional lawyers. In fact across the firm, our turnover is up nearly 20% on where it was at the same point last year.
However, as the article below goes on to point out, it is early days and Brexit (let alone President-Elect Trump) has not really got underway yet. It is very difficult to predict what will happen in the months and years ahead and we definitely live in more uncertain times than at the beginning of the year. It will be interesting to see how the Chancellor addresses this in his Autumn Statement.
The chancellor, Philip Hammond, has been given a boost ahead of his maiden autumn statement by a Guardian analysis showing the economy continues to confound gloomy forecasts for a post-referendum slump. A bumper month for retail sales, a steady housing market, broad-based business growth and a drop in the jobless rate have all boosted hopes for a strong finish to the year for the UK economy.