According to a recent study by The Property Hub, a no-deal Brexit won’t discourage landlords into buying more properties.
A no-deal Brexit is becoming ever more likely after EU leaders declined Theresa May’s recent proposal. Despite this, the data claims that this won’t deter a substantial amount of landlords from growing their property portfolios over the next 12 months.
Some Industry experts are predicting that exiting the EU without an agreement will cause untold discord, however two thirds of surveyed landlords said they’re planning to increase their portfolios regardless.
The Property Hub discovered that 77% of landlords in 2019 will attempt to buy at least one more property, with 70% stating that their portfolio growth will unlikely be affected whether or not there is a no-deal brexit.
Multiple reports forecast that buy-to-let landlords are being driven out of the market by the Government’s tax crackdown, as the number of those struggling to make solid returns is increasing.
Despite this, 84% of landlords have exclaimed that they’ve not even considered selling any of their properties during the course of the next three years, with 66% even saying that they wouldn’t budge even if the government introduced more tax changes.
Co-Founder of The Property Hub, Rob Dix says: “There’s been so much talk of a mass exodus of landlords and the death of buy to let, it’s easy for some would-be landlords or, indeed, tenants, to believe the rental market is on its knees. However, it’s clear from our survey that landlords are far from retreating from the market.
“Getting good, long-term tenants is the goal for any landlord, so it’s not surprising that less than 9% of landlords would be against this policy regardless of any concessions.
“However, landlords obviously need to be protected too, so it’s only natural that those operating in the sector are calling for some reassurance.”
“Taken as a whole, the results of our survey show that the caricature of landlords fleeing the sector when the going gets tough isn’t in line with reality. Most landlords are in it for the long-term and have sound business plans – they don’t view property as a get-rich-quick scheme.”
He concludes: “The Armageddon-style headlines in much of the press over the last two years in no way reflect the way landlords are feeling. Buy-to-let is far from dead. Are investors operating in a new landscape? Certainly. Is it one they’re unable to navigate successfully? Absolutely not.”