Posts with tag: impact of Brexit

New findings from the National Landlords Association have revealed that over a third of residential landlords are concerned about the impact of Brexit.

According to a survey conducted by the NLA, 35% feel that leaving the EU will have a detrimental impact on their ability to attract renters in the future.

Uncertainty

Additional data from the report shows that 39% of investors feel Brexit will have no significant impact. 21% said they were unsure, while 5% feel it will have a positive effect.

The research was carried out following Prime Minister Teresa May’s announcement that Article 50 will be triggered by March 2017.

By region, the findings show that over half of landlords in central London (55%) feel that Brexit will have a negative impact on their business. However, just 22% of those in the North East feel that this will be the case.

Concern

Richard Blanco, representative of the NLA, noted: ‘These findings clearly show that a significant proportion of landlords are concerned about what Brexit will mean for their lettings business so we wanted to try to understand and make sense of the situation.’[1]

‘We now know that Article 50 will be triggered soon, but landlords still have lots of questions like what will happen to rental demand as a consequence of Brexit, will house prices fall, or should I rethink my investment strategy?’ he added.[1]

The full regional breakdown on how landlords feel Brexit will impact on their business is evident in the table below:

Property location	Brexit will have positive impact	Brexit will have negative impact
East Midlands	14	35
Yorks & Humber	12	24
Wales	9	33
North West	8	34
East England	7	34
South West	6	33
South East	6	38
North East	5	22
West Midlands	4	28
Scotland	4	39
London outer	3	46
London centre	2	55

[1]

[1] http://www.propertyreporter.co.uk/landlords/brexit-worries-for-35-of-landlords.html