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TODAY'S OTHER NEWS

Landlords still bullish despite Covid and Brexit - poll

A developer claims a poll of its clients show landlords to be bullish about the market, despite Coronavirus and Brexit.

The company - Seven Capital - does not indicate the size of the poll of investors and buyers, but says just over a quarter (27.2 per cent) believe capital values will grow by more than 15 per cent over the next five years.

And more than one in three (34.7 per cent) believe the market will achieve modest growth below 15 per cent.

These figures are only slightly behind those that the developer found previously at the beginning of 2019 when polling 450 high net worth individuals about their thoughts.

Some 53.3 per cent believe the market will be stronger in 18 months time.

Andy Foote, director at SevenCapital, says: “This poll shows us two things. First of all it shows us that people understand the UK property market and its cycles, so they aren’t blinkered by a political event that might cause a momentary crash.

“The second thing it shows is exactly why the UK market is so resilient, because at the end of the day people have the power to make or break the market. If people remain confident and keep buying and investing then the cycle continues, it’s only when confidence is lost that the market falters. 

“Thankfully, there are more people in the UK and across the world that maintain a steely confidence in the UK and that’s what makes it one of the best and most stable markets globally in which to invest.”

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    Market forces will always prevail. As soon as people can get back to their normal profligate lifestyles and throw their money at the non productive hospitality sectors then all the currently unnecessary former employees will be re-employed and demand for rental properties ( which has not diminished in most places) will drive up rents and property values yet again.

    With a huge number of high rise flats currently unsaleable, demand for traditional properties will increase pushing up property prices and market rents.

    I'm in this for the long haul and don't believe there is any safer home for the money I have worked hard to accumulate along with the alleged windfall gains from rising property values over the last 40 years and rising rents over the last 15 years.

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