Brexit and the rental market

July 7th 2016
By: Mary.Wilkins
Brexit and the rental market

Brexit is still the hot subject and despite some fear-mongering claims amongst the Remain campaign, the experts are not expecting change in the rental markets. 

ARLA – the Association of Residential Letting Agents carried out a survey and asked agents their thoughts.  Over 66% believed that the supply and demand of privately rented properties would remain constant now the referendum results have been announced.

Confidence in rental prices remaining stable is high.  David Cox, Managing Director of ARLA has said that “the lettings market hosts a large number of non-UK born citizens and any change in migration policy is likely to have an impact down the line.  However, our monthly report clearly shows the sentiment amongst members is that the immediacy of this effect is likely to be minimal.”

Homes in London have become cheaper to foreign investors as the pound has fallen over the last six months.  Belief in London’s bright lights remains strong and the city’s reputation as a valuable property investment area remains as popular as ever.

Goodfellows Director Bernadette Keating remains confident that the vote to leave the EU will not negatively affect the rental market.  Landlords can rest assured that their investment in property will be looked after by staff with Goodfellows with a calm, ‘business as usual’ approach.  

Feel free to discuss in more detail by calling or popping into your local branch.