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TODAY'S OTHER NEWS

Brexit leaves an uncertain future for landlords

‘Uncertainty’, ‘disbelief’ and ‘concern’ are the words one landlord used to describe his reaction to last month’s Brexit result.

But it would seem that landlord Adam Feather is not the only one anxious about the impact that Britain’s decision to leave the EU could have on the private rented sector (PRS).

A new survey by BDRC Continental has revealed that 65% of UK landlords are unsure or concerned about a negative impact on the PRS post Brexit verdict.

In the wake of the Brexit vote, 40% of landlords believe that the result will have an adverse impact on the PRS with a quarter (25%) saying they are uncertain what the impact will be.

Of those landlords who fear Brexit will result in a downturn in their sector, some 42% have a buy-to-let mortgage – pointing to the potential economic worries associated with exiting the EU.

Mark Long, director at BDRC Continental, said: “These early findings in the days immediately following the UK’s decision to leave the EU paint an interesting but mixed picture for private landlords. Attitudes and future intentions vary widely with an underlying current that the only certainty is that there is no certainty. 

“Some of the key factors that will determine how private landlords weather the storm include their exposure to EU residents and the extent to which they have strong underlying profitability across their lettings portfolios to adapt to the evolving financial landscape.

“The next quarterly landlord’s panel results in early August will provide further insights on the sentiment among the UK’s private landlords on whom much of the population relies for good quality housing.”

  • Mark Hempshell

    The questions landlords should ask themselves are 1.Whether the UK's population is likely to drop significantly as a result of Brexit. 2.Whether housebuilding is likely to increase massively as a result of Brexit? I'd suggest the answers are 'no' and 'no'. The supply-demand balance is likely to continue to be favourable to landlords for the foreseeable future.

  • Paul Knox

    Mark: you missed out question 3. As a result of Brexit, Are they building more land?

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    Paul, they are not building more land as that stopped when the earth was round and there was little else of significant size to make it bigger!

     
  • Mark Hempshell

    It's not totally impossible to build more land of course - Hong Kong, Dubai, Monaco have all done it to name just a few. Unlikely in the UK I would think. (Or maybe not .... Boris Island anyone!!!)

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    It is not building more land it is moving land from one place to another. Canvey Island is an area of land reclaimed by the Dutch. The word reclaimed is used and not made so where do you get the idea that land can be 'made'?

     
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