Dealmakers and analysts in the UK’s property market have reacted with dismay to what one called the “debacle” of Brexit politics, with the defeat of Prime Minister Theresa May’s withdrawal agreement in Parliament expected to stymie investment in what was already predicted to be a quiet quarter.

Jessica Hardman, head of the UK real estate group at DWS, a fund manager with about €23bn of real estate assets under management across Europe, said the predictability of the deal’s failure did not lessen her disappointment that uncertainty would continue to hang over the capital markets.