Politics in the UK has rarely been so fast-changing, or made such compelling viewing. Our political processes, at times, appear to have descended into an Italian-style farce. So what has happened to our list of characters in another whirl-wind week? Nigel Farage has plenty more time to spend in the pub after quitting as leader of UKIP; Jeremy Corbyn is still hanging on by his fingernails; and Michael Gove now has free-time in his diary for afternoon tennis with Boris?! The only certainty that came out of this week's political vacuum is that we will have a new, female Prime Minister. Theresa May was the majority favourite amongst Conservative MPs and is the clear front-runner, but when it comes to political predictions The Weekly is going to sit firmly on the fence. After all, who would have thought that Donald Trump could now actually be a serious contender to be President of the United States?!
If you are pre-disposed to the view that the proverbial glass is half-empty rather than half-full, there was enough negative real estate news this week to encourage you to down the rest of your glass and head straight for the pub exit door! Standard Life's decision to gate its £2.9 billion open-ended fund proved the catalyst for a number of other retail funds to follow suit. Henderson Global Investors, Aviva, Columbia Threadneedle and M&G all suspended trading in their funds this week, leading many commentators to immediately liken the "run on the funds" to the 2007 credit crunch. Aberdeen Asset Management took an alternative, but no less drastic approach by slashing the value of its £3.4 billion UK Property Fund by 17% in an effort to stem outflows. All this is evidence, if we needed it, that the post-Brexit shockwaves have impacted on investor confidence. Surely, therefore, it is the right time then to head straight back to the bar for a replacement pint in order to reflect calmly on the long-term, structural (and in our view compelling) reasons for investing in UK real estate.
There is nothing like an afternoon of summer sport to banish Brexit-related worries. If you are French, or Portuguese you will no doubt be gearing up for the thrills and spills of tonight's Euro 2016 football final. If you are British, you may be tuning in to watch Andy Murray battle it out on Centre Court in his bid for a second Wimbledon title, or perhaps Lewis Hamilton who starts on pole position for the British Grand Prix at Silverstone. And, if you're not interested in sport, then the great British summer offers a world of opportunities to escape the relentless, wall-to-wall media coverage. Whether it is a game of cricket, a Sunday bbq, mowing the lawn, or even repairing the fence, it is a day to "unplug". Beer anyone?