What does Brexit mean for the Property Industry?

What does Brexit mean for the Property Industry?

It’s common knowledge that Britain leaving the EU will have economic and legal impacts, but what specific effects will it have on the property market?

Having spoken to local estate agents, the general consensus is that there was a lull in new property for the 2 or 3 weeks following on from the Brexit result however since then the market has picked back up again. It seems that whilst there may have been a sense of uncertainty in the air, the market is still going strong as the property market is largely not impacted by the rest of Europe.

The market may see a dip in property values over the next few months in the lead-up to the government invoking Article 50 however this would suit any buy to let landlords out there. Regardless of the sales market, the rental market has remained consistently strong despite additional help being brought in by the government in the form of help-to-buy savings accounts.

At the end of the day people will always need somewhere to live and even in the face of Brexit, investing in property is still a wise decision. The banks’ interest rates are at a record low which is great news for property buyers and with companies like us consistently achieving rental yields of 7%, becoming a landlord has never been a more enticing option.

For more information about investing in this area, feel free to give us a call on 01782 638111 and we'll be happy to advise.