CONCERNS over Brexit have already led international businesses to postpone investment in the north west, says the Royal Institution of Chartered Surveyors.

Its EU Referendum Paper  includes survey data showing a steady easing in international demand for the north west’s office, industrial and retail property since the referendum was confirmed in the spring of last year.

Demand from international investors for commercial property in the region is now at its lowest level since RICS records began in 2014.

Uncertainty caused by the EU referendum was cited by 38 per cent of chartered surveyors as the reason why major international retailers and other businesses have been nervous of investing in Britain.

Should Britain leave, 43 per cent expect it to have a negative impact on the commercial property sector.

Only six per cent expect the impact to be positive.

RICS chief economist Simon Rubinsohn said: “There is no doubt that since the EU referendum became a certainty, we have seen a decline in interest from overseas investors in UK commercial property.

“At least in the short-term, we know that international retailers and service providers are finding the UK market less attractive.”

He added that lower demand meant rents were rising more slowly, which was helpful for start-ups and business growth.

And the RICS says that leaving the EU could benefit the region's forestry sector because Brexit would probably weaken sterling, making timber exports more competitive.