The bi-annual London Development Barometer survey (LDB) by London-based development managers M3 Consulting, has revealed the London development industry’s confidence in the inward overseas investment market, despite further uncertainties created by the Brexit impasse.

Overseas investment is predicted to stay the same or increase over the next five years according to 64% of respondents, up from 51% six months ago. This includes a high of 32% who believe there will an increase, against of a low of 30% who believe it will decrease, improving on the 25% and 36% respectively in autumn 2018.

One third of the respondents (36%) believe the Brexit extension will produce a better deal, while 48% believe it will not and 16% say they don’t know. Almost 6 in 10 believe the Brexit extension will have a negative impact on London’s development activity while just 15% believe the impact will be positive.

Despite the scepticism, 32% of the respondents now believe there will be more development activity in the capital over the next five years, steadily increasing from 29% six months ago, and 19% in autumn 2017.

Regarding overseas investment into the capital, 74% of respondents believe the largest source of inward investment will be from Asia, with China expected by most to be the primary investment source while others have cited Singapore, Japan, Malaysia and India.